Hawaii Medical Service Association 401(k) Review & Grade
Hawaii Medical Service Association Employee Thrift Plan
Honolulu, HIFinance & Insurance1,336 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$4,715Employer $ per active participant
$8,988Employee $ saved per active participant
0.06%Direct admin cost, % of plan assets
$480.0MNet plan assets, end of year
$220,895Average balance per account
Score breakdown
- Employer generosity32.0 / 5064th percentile for employer $ per participant
- Low cost21.0 / 2584th percentile for low admin cost vs. same-size plans
- Employee saving10.4 / 1569th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score66 / 100 · Grade B
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 64th |
| Lower admin cost | 84th |
| Employee saving | 69th |
| Peers that auto-enroll | 62% |
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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
- Hawaii Medical Service Association put in about $4,715 per active participant, more than the typical peer ($3,606). 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 | $6,296,917 |
| Participant (employee) contributions | $12,003,249 |
| Other contributions (incl. rollovers in) | $423,682 |
| Administrative expenses paid from the plan | $280,090 |
| Other admin expenses | $280,090 |
| Benefits paid out | $32,087,440 |
| Net assets, start / end of year | $433.5M / $480.0M |
| Active participants, start / end of year | 1,291 / 1,380 |
| Participants with account balances | 2,173 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Accuity LLP |
Largest service providers (Schedule C)
| The Vanguard Group, Inc. | $167,733 reported compensation |
| Vanguard Advisers Inc. | $118,607 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014235543NAL0003891617001, received 2025-10-15, EIN 99-0040115, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.