Highmark Health 401(k) Review & Grade
Highmark Investment Plan
Pittsburgh, PAFinance & Insurance15,289 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$7,094Employer $ per active participant
$8,518Employee $ saved per active participant
0.04%Direct admin cost, % of plan assets
$2.9BNet plan assets, end of year
$134,520Average balance per account
Score breakdown
- Employer generosity33.1 / 5066th percentile for employer $ per participant
- Low cost19.0 / 2576th percentile for low admin cost vs. same-size plans
- Employee saving6.3 / 1542th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score68 / 100 · Grade B
This plan vs. peers
Peers: Finance & Insurance plans with 10,000+ active participants (72 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 66th |
| Lower admin cost | 76th |
| Employee saving | 42th |
| Peers that auto-enroll | 74% |
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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
- Highmark Health put in about $7,094 per active participant, more than the typical peer ($5,179). 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.
- 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 | $108,465,881 |
| Participant (employee) contributions | $130,238,474 |
| Other contributions (incl. rollovers in) | $10,582,231 |
| Administrative expenses paid from the plan | $1,149,667 |
| Other admin expenses | $1,149,667 |
| Benefits paid out | $237,027,503 |
| Net assets, start / end of year | $2.5B / $2.9B |
| Active participants, start / end of year | 15,661 / 14,917 |
| Participants with account balances | 21,269 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Baker Tilly US, LLP |
Largest service providers (Schedule C)
| Alight Solutions LLC | $1,238,993 reported compensation |
| Blackrock | $809,228 reported compensation |
| The Bank of New York Mellon | $168,386 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251010073320NAL0007331057001, received 2025-10-10, EIN 45-3674900, plan #334, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.