Hutchinson Health 401(k) Review & Grade
Hutchinson Health Retirement Savings Plan
Hutchinson, MNHealth Care & Social Assistance642 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$5,583Employer $ per active participant
$4,000Employee $ saved per active participant
0.06%Direct admin cost, % of plan assets
$82.8MNet plan assets, end of year
$99,324Average balance per account
Score breakdown
- Employer generosity46.0 / 5092th percentile for employer $ per participant
- Low cost21.4 / 2585th percentile for low admin cost vs. same-size plans
- Employee saving10.3 / 1568th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score78 / 100 · Grade A
This plan vs. peers
Peers: Health Care & Social Assistance plans with 500–2,499 active participants (1,427 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 92th |
| Lower admin cost | 85th |
| Employee saving | 68th |
| Peers that auto-enroll | 36% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($31,359 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- Hutchinson Health put in about $5,583 per active participant, more than the typical peer ($976). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- The filing shows total dollars, not the match formula. Ask HR for the Summary Plan Description so you know the exact match and vesting schedule.
- Fund expense ratios aren't in the filing. Look them up in your 404(a)(5) fee disclosure and favor low-cost index or target-date funds.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- The plan reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- Changing jobs? You can usually leave the money in the plan, move it to your new employer's plan, or roll it into an IRA. Don't cash out: you'd owe taxes and possibly a 10% penalty.
The raw numbers from the filing
| Employer contributions | $3,587,311 |
| Participant (employee) contributions | $2,569,904 |
| Other contributions (incl. rollovers in) | $278,156 |
| Administrative expenses paid from the plan | $43,452 |
| Other admin expenses | $43,452 |
| Benefits paid out | $5,911,253 |
| Net assets, start / end of year | $73.1M / $82.8M |
| Active participants, start / end of year | 657 / 628 |
| Participants with account balances | 834 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Cliftonlarsonallen LLP |
Largest service providers (Schedule C)
| Fidelity Investments | $43,452 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251005083952NAL0004629152003, received 2025-10-05, EIN 84-1715908, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.