Healthstar Physicians PC 401(k) Review & Grade
Healthstar Physicians PC 401(k) Retirement Plan
Morristown, TNHealth Care & Social Assistance504 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,231Employer $ per active participant
$4,161Employee $ saved per active participant
0.35%Direct admin cost, % of plan assets
$53.8MNet plan assets, end of year
$109,304Average balance per account
Score breakdown
- Employer generosity37.3 / 5075th percentile for employer $ per participant
- Low cost8.7 / 2535th percentile for low admin cost vs. same-size plans
- Employee saving10.5 / 1570th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score60 / 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 | 75th |
| Lower admin cost | 35th |
| Employee saving | 70th |
| 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
- Healthstar Physicians put in about $2,231 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 (0.35% 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 | $1,124,289 |
| Participant (employee) contributions | $2,097,306 |
| Other contributions (incl. rollovers in) | $160,372 |
| Administrative expenses paid from the plan | $181,117 |
| Contract administrator fees | $29,265 |
| Benefits paid out | $4,673,867 |
| Net assets, start / end of year | $49.0M / $53.8M |
| Active participants, start / end of year | 489 / 519 |
| Participants with account balances | 492 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Craine, Thompson & Jones, P.C. |
Largest service providers (Schedule C)
| The Trust Company of Tennessee | $181,117 reported compensation |
| Thoroughbred Financial Services LLC | $7,144 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014114246NAL0005666482001, received 2025-10-14, EIN 62-1612894, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.