Barnabas Health Inc. 401(k) Review & Grade
Rwjbarnabas Health 401(k) Savings Plan
West Orange, NJHealth Care & Social Assistance28,036 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$3,151Employer $ per active participant
$6,166Employee $ saved per active participant
0.07%Direct admin cost, % of plan assets
$3.0BNet plan assets, end of year
$88,503Average balance per account
Score breakdown
- Employer generosity35.5 / 5071th percentile for employer $ per participant
- Low cost14.2 / 2557th percentile for low admin cost vs. same-size plans
- Employee saving11.4 / 1576th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score51 / 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 | 71th |
| Lower admin cost | 57th |
| Employee saving | 76th |
| Peers that auto-enroll | 52% |
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Red flags from the filing
Benefits not paid when due: the plan reported failing to pay some benefits on time.
Corrective distributions: the plan refunded $123,642 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Barnabas Health put in about $3,151 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 | $88,337,263 |
| Participant (employee) contributions | $172,869,417 |
| Other contributions (incl. rollovers in) | $20,422,521 |
| Administrative expenses paid from the plan | $2,026,707 |
| Other admin expenses | $474,882 |
| Benefits paid out | $240,995,260 |
| Net assets, start / end of year | $2.6B / $3.0B |
| Active participants, start / end of year | 27,485 / 28,586 |
| Participants with account balances | 33,525 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Withumsmithbrown, PC |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $1,146,293 reported compensation |
| Winston & Strawn LLP | $379,810 reported compensation |
| Nepc, LLC | $144,515 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015121500NAL0009526194001, received 2025-10-15, EIN 22-2405279, plan #005, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.