Umass Memorial Health Care, Inc. 401(k) Review & Grade
Umass Memorial Health Care 401(k) Plan
Worcester, MAHealth Care & Social Assistance13,800 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,274Employer $ per active participant
$4,261Employee $ saved per active participant
0.06%Direct admin cost, % of plan assets
$1.4BNet plan assets, end of year
$108,474Average balance per account
Score breakdown
- Employer generosity27.6 / 5055th percentile for employer $ per participant
- Low cost16.0 / 2564th percentile for low admin cost vs. same-size plans
- Employee saving6.6 / 1544th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score50 / 100 · Grade C
This plan vs. peers
Peers: Health Care & Social Assistance plans with 10,000+ active participants (115 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 55th |
| Lower admin cost | 64th |
| Employee saving | 44th |
| Peers that auto-enroll | 52% |
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Red flags from the filing
Corrective distributions: the plan refunded $14,321 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Umass Memorial Health Care put in about $2,274 per active participant, more than the typical peer ($2,086). 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 | $31,384,415 |
| Participant (employee) contributions | $58,802,142 |
| Other contributions (incl. rollovers in) | $8,882,747 |
| Administrative expenses paid from the plan | $814,808 |
| Investment advisory & management fees | $105,444 |
| Benefits paid out | $105,959,352 |
| Net assets, start / end of year | $1.2B / $1.4B |
| Active participants, start / end of year | 13,351 / 14,248 |
| Participants with account balances | 13,141 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Cohnreznick LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $708,364 reported compensation |
| Fiducient Advisors | $58,872 reported compensation |
| Strategic Advisors, Inc. | $46,572 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251009142837NAL0007136257001, received 2025-10-09, EIN 04-3358566, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.