Conway Hospital, Inc. D/B/A Conway Medical Center 401(k) Review & Grade
Conway Medical Center 401(k) Plan
Conway, SCHealth Care & Social Assistance1,831 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,591Employer $ per active participant
$3,377Employee $ saved per active participant
0.12%Direct admin cost, % of plan assets
$89.1MNet plan assets, end of year
$58,025Average balance per account
Score breakdown
- Employer generosity31.7 / 5063th percentile for employer $ per participant
- Low cost17.4 / 2570th percentile for low admin cost vs. same-size plans
- Employee saving9.1 / 1561th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score61 / 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 | 63th |
| Lower admin cost | 70th |
| Employee saving | 61th |
| Peers that auto-enroll | 36% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Conway Hospital, Inc. D/B/A Conway Medical Center put in about $1,591 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.
- 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 | $2,913,112 |
| Participant (employee) contributions | $6,182,946 |
| Other contributions (incl. rollovers in) | $5,149,996 |
| Administrative expenses paid from the plan | $98,137 |
| Contract administrator fees | $98,137 |
| Benefits paid out | $9,556,633 |
| Net assets, start / end of year | $75.8M / $89.1M |
| Active participants, start / end of year | 1,805 / 1,857 |
| Participants with account balances | 1,535 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Grant Thornton, LLP |
Largest service providers (Schedule C)
| Lincoln National Corporation | $100,141 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014143714NAL0003037793001, received 2025-10-14, EIN 57-0314381, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.