Glencoe Regional Health Services 401(k) Review & Grade
Glencoe Regional Health Services 401(k) Retirement Plan
Glencoe, MNHealth Care & Social Assistance572 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,909Employer $ per active participant
$4,417Employee $ saved per active participant
0.22%Direct admin cost, % of plan assets
$69.1MNet plan assets, end of year
$99,806Average balance per account
Score breakdown
- Employer generosity41.1 / 5082th percentile for employer $ per participant
- Low cost12.7 / 2551th percentile for low admin cost vs. same-size plans
- Employee saving10.9 / 1573th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score68 / 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 | 82th |
| Lower admin cost | 51th |
| Employee saving | 73th |
| 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
- Glencoe Regional Health Services put in about $2,909 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 | $1,665,315 |
| Participant (employee) contributions | $2,528,888 |
| Other contributions (incl. rollovers in) | $462,105 |
| Administrative expenses paid from the plan | $143,488 |
| Investment advisory & management fees | $54,167 |
| Benefits paid out | $3,425,628 |
| Net assets, start / end of year | $58.7M / $69.1M |
| Active participants, start / end of year | 567 / 578 |
| Participants with account balances | 692 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Cliftonlarsonallen LLP |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company | $77,622 reported compensation |
| Empower Advisory Group, LLC | $34,167 reported compensation |
| Alerus Financial NA | $20,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250722143046NAL0006347426001, received 2025-07-22, EIN 41-1949230, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.