Jackson Clinic Professional Association 401(k) Review & Grade
The Jackson Clinic Professional Association Revised Profit Sharing Plan
Jackson, TNHealth Care & Social Assistance636 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,575Employer $ per active participant
$3,825Employee $ saved per active participant
0.11%Direct admin cost, % of plan assets
$169.1MNet plan assets, end of year
$205,457Average balance per account
Score breakdown
- Employer generosity39.1 / 5078th percentile for employer $ per participant
- Low cost18.0 / 2572th percentile for low admin cost vs. same-size plans
- Employee saving9.9 / 1566th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score67 / 100 · Grade B
This plan vs. peers
Peers: Health Care & Social Assistance plans with 500–2,499 active participants (1,427 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 78th |
| Lower admin cost | 72th |
| Employee saving | 66th |
| Peers that auto-enroll | 36% |
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Red flags from the filing
Corrective distributions: the plan refunded $764 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Jackson Clinic Professional Association put in about $2,575 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.
- 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 | $1,637,741 |
| Participant (employee) contributions | $2,432,940 |
| Other contributions (incl. rollovers in) | $1,068,776 |
| Administrative expenses paid from the plan | $181,730 |
| Investment advisory & management fees | $87,282 |
| Benefits paid out | $23,363,944 |
| Net assets, start / end of year | $165.2M / $169.1M |
| Active participants, start / end of year | 629 / 643 |
| Participants with account balances | 823 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Horne LLP |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company O | $94,448 reported compensation |
| First Horizon Advisors Inc | $87,282 reported compensation |
| Charles Schwab & Co., Inc. | $44 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014121402NAL0002733409001, received 2025-10-14, EIN 62-0555660, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.