Hoag Memorial Hospital Presbyterian 401(k) Review & Grade
Hoag Sheltered Savings Plan
Newport Beach, CAHealth Care & Social Assistance8,900 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$4,509Employer $ per active participant
$8,196Employee $ saved per active participant
0.05%Direct admin cost, % of plan assets
$1.3BNet plan assets, end of year
$109,042Average balance per account
Score breakdown
- Employer generosity45.8 / 5092th percentile for employer $ per participant
- Low cost20.1 / 2581th percentile for low admin cost vs. same-size plans
- Employee saving13.8 / 1592th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score87 / 100 · Grade A
This plan vs. peers
Peers: Health Care & Social Assistance plans with 2,500–9,999 active participants (312 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 92th |
| Lower admin cost | 81th |
| Employee saving | 92th |
| Peers that auto-enroll | 38% |
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Red flags from the filing
Corrective distributions: the plan refunded $23,188 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Hoag Memorial Hospital Presbyterian put in about $4,509 per active participant, more than the typical peer ($800). 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 | $40,132,887 |
| Participant (employee) contributions | $72,947,506 |
| Other contributions (incl. rollovers in) | $13,869,996 |
| Administrative expenses paid from the plan | $525,452 |
| Contract administrator fees | $3,900 |
| Other admin expenses | $105,000 |
| Benefits paid out | $96,919,992 |
| Net assets, start / end of year | $1.1B / $1.3B |
| Active participants, start / end of year | 8,596 / 9,204 |
| Participants with account balances | 11,498 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | KPMG LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $420,452 reported compensation |
| Sageview | $105,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20260916101324NAL0003158945001, received 2026-09-16, EIN 95-1643327, plan #005, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.