Memorial Health Services 401(k) Review & Grade
Memorialcare 401(k) Plan
Fountain Valley, CAHealth Care & Social Assistance7,350 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$3,141Employer $ per active participant
$5,813Employee $ saved per active participant
0.18%Direct admin cost, % of plan assets
$328.6MNet plan assets, end of year
$36,114Average balance per account
Score breakdown
- Employer generosity41.2 / 5082th percentile for employer $ per participant
- Low cost9.5 / 2538th percentile for low admin cost vs. same-size plans
- Employee saving12.0 / 1580th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score66 / 100 · Grade B
This plan vs. peers
Peers: Health Care & Social Assistance plans with 2,500–9,999 active participants (312 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 82th |
| Lower admin cost | 38th |
| Employee saving | 80th |
| Peers that auto-enroll | 38% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Memorial Health Services put in about $3,141 per active participant, more than the typical peer ($800). 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 | $23,087,000 |
| Participant (employee) contributions | $42,721,000 |
| Other contributions (incl. rollovers in) | $8,776,000 |
| Administrative expenses paid from the plan | $517,000 |
| Other admin expenses | $517,000 |
| Benefits paid out | $17,418,000 |
| Net assets, start / end of year | $239.3M / $328.6M |
| Active participants, start / end of year | 7,188 / 7,511 |
| Participants with account balances | 9,098 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Pricewaterhouscoopers, LLP |
Largest service providers (Schedule C)
| The Vanguard Group, Inc. | $391,639 reported compensation |
| Vanguard Advisers Inc. | $144,472 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015223411NAL0005690689001, received 2025-10-15, EIN 95-1643381, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.