Traditions Health, LLC 401(k) Review & Grade
Traditions Health, LLC 401(k) Plan
Franklin, TNHealth Care & Social Assistance2,324 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$543Employer $ per active participant
$2,010Employee $ saved per active participant
0.64%Direct admin cost, % of plan assets
$31.0MNet plan assets, end of year
$24,304Average balance per account
Score breakdown
- Employer generosity18.6 / 5037th percentile for employer $ per participant
- Low cost3.8 / 2515th percentile for low admin cost vs. same-size plans
- Employee saving6.2 / 1542th percentile for employee $ per participant
- Plan features0 / 10No auto-enrollment or default investment reported
- Red-flag deductions-13 pts2 issues reported on the filing
Total score16 / 100 · Grade F
This plan vs. peers
Peers: Health Care & Social Assistance plans with 500–2,499 active participants (1,427 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 37th |
| Lower admin cost | 15th |
| Employee saving | 42th |
| Peers that auto-enroll | 36% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($78,784 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $1,579 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Traditions Health put in about $543 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.
- Direct plan expenses (0.64% of assets) are well above similar-size plans (0.23%). Check your annual fee disclosure, choose low-cost index funds if you can, and think about whether savings beyond the match belong in an IRA.
- The plan reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- 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 | $1,262,036 |
| Participant (employee) contributions | $4,671,054 |
| Other contributions (incl. rollovers in) | $970,838 |
| Administrative expenses paid from the plan | $191,476 |
| Contract administrator fees | $191,476 |
| Benefits paid out | $7,718,299 |
| Net assets, start / end of year | $28.5M / $31.0M |
| Active participants, start / end of year | 2,448 / 2,199 |
| Participants with account balances | 1,277 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Forvis Mazars LLP |
Largest service providers (Schedule C)
| Principal Life Insuarance Company | $174,378 reported compensation |
| Northwestern Mutual Investment Serv | $56,969 reported compensation |
| Alliance Benefit Group of Houston | $30,917 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250818142953NAL0000704131001, received 2025-08-18, EIN 45-1744136, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.