Larkin Community Hospital, Inc. 401(k) Review & Grade
Larkin Community Hospital 401(k) Plan
South Miami, FLHealth Care & Social Assistance1,694 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$71Employer $ per active participant
$1,123Employee $ saved per active participant
0.86%Direct admin cost, % of plan assets
$16.7MNet plan assets, end of year
$6,624Average balance per account
Score breakdown
- Employer generosity6.7 / 5013th percentile for employer $ per participant
- Low cost2.2 / 259th percentile for low admin cost vs. same-size plans
- Employee saving3.7 / 1525th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score20 / 100 · Grade F
This plan vs. peers
Peers: Health Care & Social Assistance plans with 500–2,499 active participants (1,427 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 13th |
| Lower admin cost | 9th |
| Employee saving | 25th |
| Peers that auto-enroll | 36% |
Get the monthly 401(k) report card
The best and worst plans, new grades as filings post. One email a month, no spam.
Red flags from the filing
Corrective distributions: the plan refunded $69,729 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Larkin Community Hospital put in about $71 per active participant, below the typical peer ($976). Any match is still an instant return, so contribute enough to get all of it.
- 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.
- Direct plan expenses (0.86% of assets) are well above similar-size plans (0.23%). Check your annual fee disclosure, choose low-cost index funds if you can, and think about whether savings beyond the match belong in an IRA.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- 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 | $120,027 |
| Participant (employee) contributions | $1,901,765 |
| Other contributions (incl. rollovers in) | $19,461 |
| Administrative expenses paid from the plan | $132,061 |
| Contract administrator fees | $1,133 |
| Benefits paid out | $1,337,838 |
| Net assets, start / end of year | $13.9M / $16.7M |
| Active participants, start / end of year | 1,616 / 1,772 |
| Participants with account balances | 2,520 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Frazier & Deeter, LLC |
Largest service providers (Schedule C)
| Newport Group Inc. | $137,846 reported compensation |
| Newport Trust Company | $14,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015144733NAL0002597603001, received 2025-10-15, EIN 65-0729921, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.