Baystate Health, Inc 401(k) Review & Grade
Baystate Health, Inc Retirement Plan
Springfield, MAHealth Care & Social Assistance13,718 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3,835Employer $ per active participant
$5,608Employee $ saved per active participant
0.07%Direct admin cost, % of plan assets
$1.4BNet plan assets, end of year
$82,630Average balance per account
Score breakdown
- Employer generosity41.7 / 5083th percentile for employer $ per participant
- Low cost14.3 / 2557th percentile for low admin cost vs. same-size plans
- Employee saving10.3 / 1568th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score73 / 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 | 83th |
| Lower admin cost | 57th |
| Employee saving | 68th |
| Peers that auto-enroll | 52% |
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Red flags from the filing
Corrective distributions: the plan refunded $6,170 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Baystate Health put in about $3,835 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.
- 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 | $52,606,582 |
| Participant (employee) contributions | $76,934,118 |
| Other contributions (incl. rollovers in) | $61,969,566 |
| Administrative expenses paid from the plan | $930,506 |
| Contract administrator fees | $5,700 |
| Investment advisory & management fees | $99,789 |
| Other admin expenses | $156,739 |
| Benefits paid out | $126,602,291 |
| Net assets, start / end of year | $1.2B / $1.4B |
| Active participants, start / end of year | 13,531 / 13,905 |
| Participants with account balances | 17,067 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Meyers Brothers Kalicka, P.C. |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $671,190 reported compensation |
| Strategic Advisors, Inc. | $99,789 reported compensation |
| Towers Watson Investment Services, | $96,197 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251003081157NAL0001143025001, received 2025-10-03, EIN 04-2105941, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.