Floyd Healthcare Management 401(k) Review & Grade
Floyd Healthcare Management, Inc. 401(k) Retirement Plan
Rome, GAHealth Care & Social Assistance3,868 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,936Employer $ per active participant
$3,760Employee $ saved per active participant
0.22%Direct admin cost, % of plan assets
$205.2MNet plan assets, end of year
$67,670Average balance per account
Score breakdown
- Employer generosity34.4 / 5069th percentile for employer $ per participant
- Low cost7.7 / 2531th percentile for low admin cost vs. same-size plans
- Employee saving8.9 / 1559th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score54 / 100 · Grade C
This plan vs. peers
Peers: Health Care & Social Assistance plans with 2,500–9,999 active participants (312 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 69th |
| Lower admin cost | 31th |
| Employee saving | 59th |
| Peers that auto-enroll | 38% |
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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
- Floyd Healthcare Management put in about $1,936 per active participant, more than the typical peer ($800). 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.
- Direct plan expenses (0.22% of assets) are well above similar-size plans (0.12%). Check your annual fee disclosure, choose low-cost index funds if you can, and think about whether savings beyond the match belong in an IRA.
- 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 | $7,489,503 |
| Participant (employee) contributions | $14,546,839 |
| Other contributions (incl. rollovers in) | $1,849,410 |
| Administrative expenses paid from the plan | $422,542 |
| Investment advisory & management fees | $85,857 |
| Benefits paid out | $17,166,038 |
| Net assets, start / end of year | $175.2M / $205.2M |
| Active participants, start / end of year | 3,787 / 3,950 |
| Participants with account balances | 3,033 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Cliftonlarsonallen LLP |
Largest service providers (Schedule C)
| Transamerica Retirement Solutions | $322,904 reported compensation |
| Cannon Financial Strategists, Inc. | $85,572 reported compensation |
| Cliftonlarsonallen LLP | $13,781 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251010164515NAL0013554720001, received 2025-10-10, EIN 58-1973570, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.