Inlet Health, Inc. 401(k) Review & Grade
Inlet Health 401(k) Plan
Elizabethtown, KYHealth Care & Social Assistance709 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$400Employer $ per active participant
$825Employee $ saved per active participant
0.82%Direct admin cost, % of plan assets
$12.3MNet plan assets, end of year
$30,262Average balance per account
Score breakdown
- Employer generosity14.9 / 5030th percentile for employer $ per participant
- Low cost2.4 / 2510th percentile for low admin cost vs. same-size plans
- Employee saving2.7 / 1518th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score13 / 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 | 30th |
| Lower admin cost | 10th |
| Employee saving | 18th |
| Peers that auto-enroll | 36% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($112 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- Inlet Health put in about $400 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 (0.82% 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.
- The plan reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- 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 | $283,532 |
| Participant (employee) contributions | $585,023 |
| Other contributions (incl. rollovers in) | $22,521 |
| Administrative expenses paid from the plan | $79,204 |
| Investment advisory & management fees | $22,954 |
| Other admin expenses | $7,580 |
| Benefits paid out | $996,960 |
| Net assets, start / end of year | $7.0M / $12.3M |
| Active participants, start / end of year | 740 / 678 |
| Participants with account balances | 407 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Lbmc, PC |
Largest service providers (Schedule C)
| Transamerica Retirement Solutions | $48,670 reported compensation |
| Wellth Advisory Services, LLC | $11,732 reported compensation |
| Global Retirement Partners LLC | $11,222 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014123701NAL0001353363001, received 2025-10-14, EIN 99-0813132, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.