Luminis Health Care Services, Inc. 401(k) Review & Grade
Luminis Health Care Services, Inc. 401(k) Plan
Annapolis, MDHealth Care & Social Assistance812 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,451Employer $ per active participant
$3,288Employee $ saved per active participant
0.20%Direct admin cost, % of plan assets
$30.3MNet plan assets, end of year
$17,348Average balance per account
Score breakdown
- Employer generosity30.4 / 5061th percentile for employer $ per participant
- Low cost13.5 / 2554th percentile for low admin cost vs. same-size plans
- Employee saving9.0 / 1560th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score63 / 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 | 61th |
| Lower admin cost | 54th |
| Employee saving | 60th |
| 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
- Luminis Health Care Services put in about $1,451 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 | $1,177,297 |
| Participant (employee) contributions | $2,668,464 |
| Other contributions (incl. rollovers in) | $700,305 |
| Administrative expenses paid from the plan | $56,690 |
| Investment advisory & management fees | $24,411 |
| Benefits paid out | $2,707,693 |
| Net assets, start / end of year | $25.6M / $30.3M |
| Active participants, start / end of year | 839 / 784 |
| Participants with account balances | 1,749 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Sc&h Attest Services, P.C. |
Largest service providers (Schedule C)
| Empower Advisory Group, LLC | $24,131 reported compensation |
| Empower Annuity Insurance Company | $16,779 reported compensation |
| Sc&h Attest Services, P.C. | $15,500 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014161255NAL0001666931001, received 2025-10-14, EIN 52-1646304, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.