Hospital Damas, Inc. 401(k) Review & Grade
Hospital Damas, Inc. Retirement Plan
Ponce, PRHealth Care & Social Assistance626 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$75Employer $ per active participant
$612Employee $ saved per active participant
1.48%Direct admin cost, % of plan assets
$7.9MNet plan assets, end of year
$17,350Average balance per account
Score breakdown
- Employer generosity6.9 / 5014th percentile for employer $ per participant
- Low cost0.7 / 253th percentile for low admin cost vs. same-size plans
- Employee saving2.1 / 1514th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-5 pts1 issue reported on the filing
Total score8 / 100 · Grade F
This plan vs. peers
Peers: Health Care & Social Assistance plans with 500–2,499 active participants (1,427 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 14th |
| Lower admin cost | 3th |
| Employee saving | 14th |
| Peers that auto-enroll | 36% |
Get the monthly 401(k) report card
The best and worst plans, new grades as filings post. One email a month, no spam.
Red flags from the filing
No fidelity bond: the plan reported it was not covered by a fidelity bond, which protects participants against theft.
What to do if you're in this plan
- Hospital Damas put in about $75 per active participant, below the typical peer ($976). Any match is still an instant return, so contribute enough to get all of it.
- 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 (1.48% 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.
- 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 | $47,108 |
| Participant (employee) contributions | $383,589 |
| Other contributions (incl. rollovers in) | – |
| Administrative expenses paid from the plan | $113,066 |
| Other admin expenses | $113,066 |
| Benefits paid out | $487,971 |
| Net assets, start / end of year | $7.4M / $7.9M |
| Active participants, start / end of year | 636 / 617 |
| Participants with account balances | 458 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Galindez LLC |
Largest service providers (Schedule C)
| Empower Annuity Insurance Co | $60,389 reported compensation |
| Onedigital Investment Advisors LLC | $55,017 reported compensation |
| A & a Employee Benefits Consulting | $7,643 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015135539NAL0002526979001, received 2025-10-15, EIN 66-0183310, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.