Mayo Holding Company 401(k) Review & Grade
Mayo Retirement Savings Plan
Rochester, MNHealth Care & Social Assistance3,700 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$12Employer $ per active participant
$42Employee $ saved per active participant
0.03%Direct admin cost, % of plan assets
$762.2MNet plan assets, end of year
$155,637Average balance per account
Score breakdown
- Employer generosity5.8 / 5012th percentile for employer $ per participant
- Low cost22.4 / 2590th percentile for low admin cost vs. same-size plans
- Employee saving0.2 / 152th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score38 / 100 · Grade D
This plan vs. peers
Peers: Health Care & Social Assistance plans with 2,500–9,999 active participants (312 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 12th |
| Lower admin cost | 90th |
| Employee saving | 2th |
| Peers that auto-enroll | 38% |
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 red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Mayo Holding put in about $12 per active participant, below the typical peer ($800). 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.
- 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 | $44,321 |
| Participant (employee) contributions | $153,960 |
| Other contributions (incl. rollovers in) | $1,371,240 |
| Administrative expenses paid from the plan | $227,585 |
| Investment advisory & management fees | $498,080 |
| Other admin expenses | $7,360 |
| Benefits paid out | $75,608,457 |
| Net assets, start / end of year | $743.2M / $762.2M |
| Active participants, start / end of year | 3,813 / 3,587 |
| Participants with account balances | 4,897 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Ernst & Young |
Largest service providers (Schedule C)
| Financial Engines | $498,080 reported compensation |
| Willis Towers Watson US LLC | $7,360 reported compensation |
| Fidelity Inv Inst Op Co, LLC | −$71,668 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250717105251NAL0000057635001, received 2025-07-17, EIN 41-1578020, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.