Gibson Area Hospital & Health Services 401(k) Review & Grade
Gibson Area Hospital & Health Services Employees' 401(k) Plan
Gibson City, ILHealth Care & Social Assistance962 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,789Employer $ per active participant
$3,455Employee $ saved per active participant
0.76%Direct admin cost, % of plan assets
$59.2MNet plan assets, end of year
$78,444Average balance per account
Score breakdown
- Employer generosity33.6 / 5067th percentile for employer $ per participant
- Low cost2.7 / 2511th percentile for low admin cost vs. same-size plans
- Employee saving9.2 / 1561th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score49 / 100 · Grade C
This plan vs. peers
Peers: Health Care & Social Assistance plans with 500–2,499 active participants (1,427 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 67th |
| Lower admin cost | 11th |
| 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
- Gibson Area Hospital & Health Services put in about $1,789 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.
- Direct plan expenses (0.76% of assets) are well above similar-size plans (0.23%). 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 | $1,722,350 |
| Participant (employee) contributions | $3,325,275 |
| Other contributions (incl. rollovers in) | $549,884 |
| Administrative expenses paid from the plan | $422,229 |
| Benefits paid out | $3,730,643 |
| Net assets, start / end of year | $51.2M / $59.2M |
| Active participants, start / end of year | 926 / 999 |
| Participants with account balances | 755 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Eck, Schafer & Punke, LLP |
Largest service providers (Schedule C)
| Busey Bank | $294,123 reported compensation |
| Epic Retirement Plan Services | $128,106 reported compensation |
| Charles Schwab Trust Bank | $6,325 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250929112650NAL0026605458001, received 2025-09-29, EIN 37-0647938, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.