Palo Alto Foundation Medical Group, Inc. 401(k) Review & Grade
Palo Alto Foundation Medical Group, Inc. 401(k) Plan
Mountain View, CAHealth Care & Social Assistance1,981 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$23,380Employer $ per active participant
$21,900Employee $ saved per active participant
0.00%Direct admin cost, % of plan assets
$2.3BNet plan assets, end of year
$943,749Average balance per account
Score breakdown
- Employer generosity49.7 / 5099th percentile for employer $ per participant
- Low cost25.0 / 25100th percentile for low admin cost vs. same-size plans
- Employee saving15.0 / 15100th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score90 / 100 · Grade A
This plan vs. peers
Peers: Health Care & Social Assistance plans with 500–2,499 active participants (1,427 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 99th |
| Lower admin cost | 100th |
| Employee saving | 100th |
| Peers that auto-enroll | 36% |
Red flags from the filing
Corrective distributions: the plan refunded $49,887 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Palo Alto Foundation Medical Group put in about $23,380 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 | $46,315,448 |
| Participant (employee) contributions | $43,384,675 |
| Other contributions (incl. rollovers in) | $11,104,673 |
| Administrative expenses paid from the plan | $600 |
| Contract administrator fees | $600 |
| Benefits paid out | $78,218,023 |
| Net assets, start / end of year | $2.0B / $2.3B |
| Active participants, start / end of year | 1,898 / 2,064 |
| Participants with account balances | 2,413 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Miller Kaplan Arase LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | −$24,383 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251008061351NAL0005184481001, received 2025-10-08, EIN 51-0656809, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.
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