Deaconess Health System, Inc. 401(k) Review & Grade
Deaconess Health System, Inc. 401(k) Plan
Evansville, INHealth Care & Social Assistance10,986 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,805Employer $ per active participant
$4,947Employee $ saved per active participant
0.10%Direct admin cost, % of plan assets
$854.6MNet plan assets, end of year
$66,672Average balance per account
Score breakdown
- Employer generosity23.7 / 5047th percentile for employer $ per participant
- Low cost11.2 / 2545th percentile for low admin cost vs. same-size plans
- Employee saving8.2 / 1554th percentile for employee $ per participant
- Plan features7 / 10Auto-enrollment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score47 / 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 | 47th |
| Lower admin cost | 45th |
| Employee saving | 54th |
| Peers that auto-enroll | 52% |
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Red flags from the filing
Corrective distributions: the plan refunded $14,890 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Deaconess Health System put in about $1,805 per active participant, below the typical peer ($2,086). Any match is still an instant return, so contribute enough to get all of it.
- 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 | $19,828,231 |
| Participant (employee) contributions | $54,348,238 |
| Other contributions (incl. rollovers in) | $5,144,367 |
| Administrative expenses paid from the plan | $778,255 |
| Investment advisory & management fees | $138,137 |
| Other admin expenses | $430,983 |
| Benefits paid out | $62,684,384 |
| Net assets, start / end of year | $738.3M / $854.6M |
| Active participants, start / end of year | 9,838 / 12,133 |
| Participants with account balances | 12,818 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Blue & Co, LLC |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $211,640 reported compensation |
| Strategic Advisors, Inc. | $138,137 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015150059NAL0002624179001, received 2025-10-15, EIN 35-1532889, plan #010, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.