Lifespan Corporation, DBA Brown University Health 401(k) Review & Grade
Brown Health 401(k) Retirement Savings Plan
Providence, RIHealth Care & Social Assistance17,902 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3,433Employer $ per active participant
$6,302Employee $ saved per active participant
0.08%Direct admin cost, % of plan assets
$1.2BNet plan assets, end of year
$55,789Average balance per account
Score breakdown
- Employer generosity38.6 / 5077th percentile for employer $ per participant
- Low cost13.9 / 2556th percentile for low admin cost vs. same-size plans
- Employee saving12.0 / 1580th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score72 / 100 · Grade B
This plan vs. peers
Peers: Health Care & Social Assistance plans with 10,000+ active participants (115 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 77th |
| Lower admin cost | 56th |
| Employee saving | 80th |
| Peers that auto-enroll | 52% |
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Red flags from the filing
Corrective distributions: the plan refunded $49,363 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Lifespan Corporation, DBA Brown University Health put in about $3,433 per active participant, more than the typical peer ($2,086). 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.
- 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 | $61,462,179 |
| Participant (employee) contributions | $112,822,790 |
| Other contributions (incl. rollovers in) | $62,322,498 |
| Administrative expenses paid from the plan | $834,058 |
| Investment advisory & management fees | $299,702 |
| Other admin expenses | $63,531 |
| Benefits paid out | $72,584,554 |
| Net assets, start / end of year | $935.7M / $1.2B |
| Active participants, start / end of year | 15,838 / 19,966 |
| Participants with account balances | 22,380 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Cbiz Cpas P.C. |
Largest service providers (Schedule C)
| Fid Inv Inst Ops Co | $472,682 reported compensation |
| Strategic Advisors, Inc. | $299,272 reported compensation |
| Resource Investment Advisors | $51,915 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20260909141713NAL0003655105001, received 2026-09-09, EIN 22-2861978, plan #005, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.