Heart Hospital of South Dakota, LLC Avera Heart Hospital South Dakota 401(k) Review & Grade
Avera Heart Hospital of South Dakota 401(k) Plan · d/b/a Avera Heart Hospital of South Dakota
Sioux Falls, SDHealth Care & Social Assistance622 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,494Employer $ per active participant
$5,771Employee $ saved per active participant
0.05%Direct admin cost, % of plan assets
$51.5MNet plan assets, end of year
$73,205Average balance per account
Score breakdown
- Employer generosity30.9 / 5062th percentile for employer $ per participant
- Low cost21.6 / 2586th percentile for low admin cost vs. same-size plans
- Employee saving12.9 / 1586th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score65 / 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 | 62th |
| Lower admin cost | 86th |
| Employee saving | 86th |
| Peers that auto-enroll | 36% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($844 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- Heart Hospital of South Dakota, LLC Avera Heart Hospital South Dakota put in about $1,494 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.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- The plan reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- 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 | $928,251 |
| Participant (employee) contributions | $3,586,890 |
| Other contributions (incl. rollovers in) | $457,321 |
| Administrative expenses paid from the plan | $25,115 |
| Contract administrator fees | $1,200 |
| Investment advisory & management fees | $5,700 |
| Benefits paid out | $2,616,184 |
| Net assets, start / end of year | $42.8M / $51.5M |
| Active participants, start / end of year | 566 / 677 |
| Participants with account balances | 704 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Eide Bailly |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $19,415 reported compensation |
| Strategic Advisors, Inc. | $5,700 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250929103044NAL0011184945001, received 2025-09-29, EIN 56-2143771, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.