Fairview Health Services 401(k) Review & Grade
Fairview Health Services 403b Plan for Mna Employees
Minneapolis, MNHealth Care & Social Assistance4,442 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$765Employer $ per active participant
$7,461Employee $ saved per active participant
0.06%Direct admin cost, % of plan assets
$454.8MNet plan assets, end of year
$80,926Average balance per account
Score breakdown
- Employer generosity24.8 / 5050th percentile for employer $ per participant
- Low cost18.1 / 2572th percentile for low admin cost vs. same-size plans
- Employee saving13.4 / 1589th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-15 pts2 issues reported on the filing
Total score44 / 100 · Grade D
This plan vs. peers
Peers: Health Care & Social Assistance plans with 2,500–9,999 active participants (312 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 50th |
| Lower admin cost | 72th |
| Employee saving | 89th |
| Peers that auto-enroll | 38% |
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Red flags from the filing
Benefits not paid when due: the plan reported failing to pay some benefits on time.
Auditor disclaimer: the auditor issued a disclaimer of opinion.
What to do if you're in this plan
- Fairview Health Services put in about $765 per active participant, below the typical peer ($800). 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.
- 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 | $3,399,424 |
| Participant (employee) contributions | $33,147,404 |
| Other contributions (incl. rollovers in) | $641,575 |
| Administrative expenses paid from the plan | $262,563 |
| Contract administrator fees | $300 |
| Investment advisory & management fees | $90,898 |
| Benefits paid out | $32,970,808 |
| Net assets, start / end of year | $393.9M / $454.8M |
| Active participants, start / end of year | 4,101 / 4,784 |
| Participants with account balances | 5,620 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Cliftonlarsonallen LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $171,665 reported compensation |
| Strategic Advisors, Inc. | $90,898 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250804141036NAL0001359187001, received 2025-08-04, EIN 41-0991680, plan #014, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.