Henry Ford Health System 401(k) Review & Grade
Henry Ford Health System Ambassador 403(b) Plan
Detroit, MIHealth Care & Social Assistance28,011 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,175Employer $ per active participant
$3,538Employee $ saved per active participant
0.10%Direct admin cost, % of plan assets
$932.2MNet plan assets, end of year
$24,737Average balance per account
Score breakdown
- Employer generosity26.8 / 5054th percentile for employer $ per participant
- Low cost11.1 / 2545th percentile for low admin cost vs. same-size plans
- Employee saving5.1 / 1534th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score43 / 100 · Grade D
This plan vs. peers
Peers: Health Care & Social Assistance plans with 10,000+ active participants (115 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 54th |
| Lower admin cost | 45th |
| Employee saving | 34th |
| Peers that auto-enroll | 52% |
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Red flags from the filing
Corrective distributions: the plan refunded $14,294 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Henry Ford Health System put in about $2,175 per active participant, more than the typical peer ($2,086). 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 | $60,934,081 |
| Participant (employee) contributions | $99,104,917 |
| Other contributions (incl. rollovers in) | $118,332,938 |
| Administrative expenses paid from the plan | $765,918 |
| Investment advisory & management fees | $12,644 |
| Benefits paid out | $58,502,646 |
| Net assets, start / end of year | $618.0M / $932.2M |
| Active participants, start / end of year | 18,400 / 37,622 |
| Participants with account balances | 37,683 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | GJC Cpa's & Advisors |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company | $714,930 reported compensation |
| GJC Cpa's & Advisors | $18,400 reported compensation |
| Nepc | $12,644 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251012205538NAL0000514769001, received 2025-10-12, EIN 38-1357020, plan #016, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.