Heart & Vascular Partners 401(k) Review & Grade
Heart & Vascular/specialty Medcare 401(k) Plan
Deerfield, ILHealth Care & Social Assistance600 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,456Employer $ per active participant
$5,492Employee $ saved per active participant
0.48%Direct admin cost, % of plan assets
$29.9MNet plan assets, end of year
$63,440Average balance per account
Score breakdown
- Employer generosity38.6 / 5077th percentile for employer $ per participant
- Low cost6.1 / 2524th percentile for low admin cost vs. same-size plans
- Employee saving12.5 / 1584th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score50 / 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 | 77th |
| Lower admin cost | 24th |
| Employee saving | 84th |
| 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 ($12,391 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 & Vascular Partners put in about $2,456 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 (0.48% 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.
- 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 | $1,472,482 |
| Participant (employee) contributions | $3,292,524 |
| Other contributions (incl. rollovers in) | $9,367,473 |
| Administrative expenses paid from the plan | $106,234 |
| Contract administrator fees | $4,702 |
| Investment advisory & management fees | $101,532 |
| Benefits paid out | $786,829 |
| Net assets, start / end of year | $14.4M / $29.9M |
| Active participants, start / end of year | 555 / 644 |
| Participants with account balances | 471 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Plant & Moran, PLLC |
Largest service providers (Schedule C)
| Usi Advisors Inc | $55,128 reported compensation |
| Empower Annuity Insurance Company | $40,415 reported compensation |
| Nova 401(k) Associates | $10,692 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013092646NAL0002312722001, received 2025-10-13, EIN 81-1015611, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.