Masonic Health System of Massachusetts, Inc. 401(k) Review & Grade
Masonic Health System of Massachusetts, Inc. and Grand Lodge of Masons in
Charlton, MAHealth Care & Social Assistance532 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$468Employer $ per active participant
$2,308Employee $ saved per active participant
0.33%Direct admin cost, % of plan assets
$19.8MNet plan assets, end of year
$64,154Average balance per account
Score breakdown
- Employer generosity16.8 / 5034th percentile for employer $ per participant
- Low cost9.4 / 2538th percentile for low admin cost vs. same-size plans
- Employee saving6.9 / 1546th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score33 / 100 · Grade D
This plan vs. peers
Peers: Health Care & Social Assistance plans with 500–2,499 active participants (1,427 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 34th |
| Lower admin cost | 38th |
| Employee saving | 46th |
| 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 $56,402 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Masonic Health System of Massachusetts put in about $468 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.
- 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 | $249,118 |
| Participant (employee) contributions | $1,227,698 |
| Other contributions (incl. rollovers in) | $620,546 |
| Administrative expenses paid from the plan | $61,033 |
| Contract administrator fees | $61,033 |
| Benefits paid out | $2,029,690 |
| Net assets, start / end of year | $17.8M / $19.8M |
| Active participants, start / end of year | 531 / 533 |
| Participants with account balances | 308 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Matthew J Bernier CPA LLC |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $61,032 reported compensation |
| Mma Securites LLC | $26,500 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014104737NAL0002560881001, received 2025-10-14, EIN 04-3515688, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.