Ameriteam Services, LLC 401(k) Review & Grade
Teamhealth 401(k) Plan
Knoxville, TNHealth Care & Social Assistance18,674 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,011Employer $ per active participant
$7,906Employee $ saved per active participant
0.18%Direct admin cost, % of plan assets
$1.8BNet plan assets, end of year
$97,944Average balance per account
Score breakdown
- Employer generosity17.5 / 5035th percentile for employer $ per participant
- Low cost5.2 / 2521th percentile for low admin cost vs. same-size plans
- Employee saving14.3 / 1596th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score34 / 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 | 35th |
| Lower admin cost | 21th |
| Employee saving | 96th |
| Peers that auto-enroll | 52% |
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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 ($16,457 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $246,701 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Ameriteam Services put in about $1,011 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.
- Direct plan expenses (0.18% of assets) are well above similar-size plans (0.09%). 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 auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- 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 | $18,886,478 |
| Participant (employee) contributions | $147,646,926 |
| Other contributions (incl. rollovers in) | $17,446,397 |
| Administrative expenses paid from the plan | $2,968,428 |
| Investment advisory & management fees | $2,406,631 |
| Benefits paid out | $158,232,285 |
| Net assets, start / end of year | $1.6B / $1.8B |
| Active participants, start / end of year | 18,772 / 18,577 |
| Participants with account balances | 18,360 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Pugh & Company |
Largest service providers (Schedule C)
| Schwab Retirement Plan Services,inc | $1,028,058 reported compensation |
| Morningstar Inc | $1,006,628 reported compensation |
| Capfinancial Partners LLC | $349,432 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250731130859NAL0003085507001, received 2025-07-31, EIN 47-2129748, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.