Baptist Healthcare System 401(k) Review & Grade
Baptist Health 401(k) Plan
Louisville, KYHealth Care & Social Assistance17,552 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3,090Employer $ per active participant
$6,718Employee $ saved per active participant
0.16%Direct admin cost, % of plan assets
$852.1MNet plan assets, end of year
$41,619Average balance per account
Score breakdown
- Employer generosity33.8 / 5068th percentile for employer $ per participant
- Low cost6.2 / 2525th percentile for low admin cost vs. same-size plans
- Employee saving12.8 / 1585th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score60 / 100 · Grade B
This plan vs. peers
Peers: Health Care & Social Assistance plans with 10,000+ active participants (115 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 68th |
| Lower admin cost | 25th |
| Employee saving | 85th |
| Peers that auto-enroll | 52% |
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Red flags from the filing
Corrective distributions: the plan refunded $18,261 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Baptist Healthcare System put in about $3,090 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.
- Direct plan expenses (0.16% 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.
- 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 | $54,228,685 |
| Participant (employee) contributions | $117,915,002 |
| Other contributions (incl. rollovers in) | $16,174,233 |
| Administrative expenses paid from the plan | $1,231,418 |
| Contract administrator fees | $900 |
| Investment advisory & management fees | $248,871 |
| Other admin expenses | $96,140 |
| Benefits paid out | $69,863,318 |
| Net assets, start / end of year | $646.2M / $852.1M |
| Active participants, start / end of year | 16,771 / 18,334 |
| Participants with account balances | 20,475 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Deloitte & Touche LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $887,160 reported compensation |
| Strategic Advisors, Inc. | $248,871 reported compensation |
| Captrust Financial Advisors | $70,677 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013153902NAL0000776483001, received 2025-10-13, EIN 61-0444707, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.