Baptist Health Deaconess, LLC 401(k) Review & Grade
Baptist Health Deaconess 401(k) Plan
Madisonville, KYHealth Care & Social Assistance1,650 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,465Employer $ per active participant
$4,398Employee $ saved per active participant
0.33%Direct admin cost, % of plan assets
$48.0MNet plan assets, end of year
$29,850Average balance per account
Score breakdown
- Employer generosity38.7 / 5077th percentile for employer $ per participant
- Low cost9.2 / 2537th percentile for low admin cost vs. same-size plans
- Employee saving10.9 / 1573th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score66 / 100 · Grade B
This plan vs. peers
Peers: Health Care & Social Assistance plans with 500–2,499 active participants (1,427 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 77th |
| Lower admin cost | 37th |
| Employee saving | 73th |
| Peers that auto-enroll | 36% |
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Red flags from the filing
Corrective distributions: the plan refunded $2,326 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Baptist Health Deaconess put in about $2,465 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.
- 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 | $4,067,818 |
| Participant (employee) contributions | $7,258,675 |
| Other contributions (incl. rollovers in) | $348,736 |
| Administrative expenses paid from the plan | $146,861 |
| Investment advisory & management fees | $18,015 |
| Benefits paid out | $8,358,503 |
| Net assets, start / end of year | $40.2M / $48.0M |
| Active participants, start / end of year | 1,613 / 1,688 |
| Participants with account balances | 1,607 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Eide Bailley |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $128,846 reported compensation |
| Strategic Advisors, Inc. | $18,015 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014170526NAL0001685203001, received 2025-10-14, EIN 87-2361058, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.