Holland Hospital 401(k) Review & Grade
Holland Hospital 401(k) Savings Plan
Holland, MIHealth Care & Social Assistance2,220 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,689Employer $ per active participant
$5,299Employee $ saved per active participant
0.12%Direct admin cost, % of plan assets
$241.0MNet plan assets, end of year
$86,732Average balance per account
Score breakdown
- Employer generosity32.4 / 5065th percentile for employer $ per participant
- Low cost17.4 / 2570th percentile for low admin cost vs. same-size plans
- Employee saving12.3 / 1582th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score72 / 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 | 65th |
| Lower admin cost | 70th |
| Employee saving | 82th |
| Peers that auto-enroll | 36% |
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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
- Holland Hospital put in about $1,689 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.
- 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 | $3,750,087 |
| Participant (employee) contributions | $11,765,516 |
| Other contributions (incl. rollovers in) | $1,091,606 |
| Administrative expenses paid from the plan | $273,149 |
| Investment advisory & management fees | $112,785 |
| Benefits paid out | $18,771,734 |
| Net assets, start / end of year | $215.0M / $241.0M |
| Active participants, start / end of year | 2,223 / 2,218 |
| Participants with account balances | 2,779 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Plante & Moran, PLLC |
Largest service providers (Schedule C)
| T Rowe Price RPS Inc | $160,366 reported compensation |
| Capfinancial Partners LLC | $112,785 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250911153518NAL0000630961001, received 2025-09-11, EIN 38-2800065, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.