Promedica Health System, Inc. 401(k) Review & Grade
Promedica Health System, Inc. 401(k) Plan
Toledo, OHHealth Care & Social Assistance18,024 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,553Employer $ per active participant
$3,843Employee $ saved per active participant
0.13%Direct admin cost, % of plan assets
$1.3BNet plan assets, end of year
$64,082Average balance per account
Score breakdown
- Employer generosity22.4 / 5045th percentile for employer $ per participant
- Low cost8.5 / 2534th percentile for low admin cost vs. same-size plans
- Employee saving5.4 / 1536th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score43 / 100 · Grade D
This plan vs. peers
Peers: Health Care & Social Assistance plans with 10,000+ active participants (115 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 45th |
| Lower admin cost | 34th |
| Employee saving | 36th |
| Peers that auto-enroll | 52% |
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Red flags from the filing
Corrective distributions: the plan refunded $26,605 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Promedica Health System put in about $1,553 per active participant, below the typical peer ($2,086). 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.
- 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 | $27,993,045 |
| Participant (employee) contributions | $69,269,282 |
| Other contributions (incl. rollovers in) | $5,978,204 |
| Administrative expenses paid from the plan | $1,653,889 |
| Contract administrator fees | $2,100 |
| Investment advisory & management fees | $606,456 |
| Other admin expenses | $355,169 |
| Benefits paid out | $154,178,402 |
| Net assets, start / end of year | $1.2B / $1.3B |
| Active participants, start / end of year | 17,786 / 18,261 |
| Participants with account balances | 20,991 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Plante & Moran, PLLC |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $711,380 reported compensation |
| Promedica Health System, Inc. | $293,769 reported compensation |
| Strategic Advisors, Inc. | $208,885 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250929101719NAL0015038115001, received 2025-09-29, EIN 34-1517671, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.