Marshfield Clinic, Inc. 401(k) Review & Grade
Marshfield Clinic Salary Reduction Plan
Marshfield, WIHealth Care & Social Assistance9,789 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,313Employer $ per active participant
$7,876Employee $ saved per active participant
0.02%Direct admin cost, % of plan assets
$1.8BNet plan assets, end of year
$136,710Average balance per account
Score breakdown
- Employer generosity29.3 / 5059th percentile for employer $ per participant
- Low cost23.9 / 2596th percentile for low admin cost vs. same-size plans
- Employee saving13.6 / 1590th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score64 / 100 · Grade B
This plan vs. peers
Peers: Health Care & Social Assistance plans with 2,500–9,999 active participants (312 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 59th |
| Lower admin cost | 96th |
| Employee saving | 90th |
| Peers that auto-enroll | 38% |
Red flags from the filing
Benefits not paid when due: the plan reported failing to pay some benefits on time.
Corrective distributions: the plan refunded $23,513 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Marshfield Clinic put in about $1,313 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 | $12,851,369 |
| Participant (employee) contributions | $77,101,768 |
| Other contributions (incl. rollovers in) | $25,566,851 |
| Administrative expenses paid from the plan | $279,376 |
| Contract administrator fees | $3,600 |
| Other admin expenses | $244,817 |
| Benefits paid out | $246,312,559 |
| Net assets, start / end of year | $1.7B / $1.8B |
| Active participants, start / end of year | 10,134 / 9,444 |
| Participants with account balances | 13,133 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Forvis Mazars, LLP |
Largest service providers (Schedule C)
| Marshfield Clinic | $244,767 reported compensation |
| Fidelity Investments Institutional | $43,135 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015102848NAL0009076162001, received 2025-10-15, EIN 39-0452970, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.
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