Mclaren Health Care Corp. 401(k) Review & Grade
Mclaren Employees' 403(b) Retirement Plan
Grand Blanc, MIHealth Care & Social Assistance18,073 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,743Employer $ per active participant
$5,022Employee $ saved per active participant
0.04%Direct admin cost, % of plan assets
$1.9BNet plan assets, end of year
$80,543Average balance per account
Score breakdown
- Employer generosity30.7 / 5061th percentile for employer $ per participant
- Low cost19.0 / 2576th percentile for low admin cost vs. same-size plans
- Employee saving8.3 / 1555th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-5 pts1 issue reported on the filing
Total score63 / 100 · Grade B
This plan vs. peers
Peers: Health Care & Social Assistance plans with 10,000+ active participants (115 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 61th |
| Lower admin cost | 76th |
| Employee saving | 55th |
| Peers that auto-enroll | 52% |
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Red flags from the filing
Auditor disclaimer: the auditor issued a disclaimer of opinion.
What to do if you're in this plan
- Mclaren Health Care put in about $2,743 per active participant, more than the typical peer ($2,086). 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 | $49,580,849 |
| Participant (employee) contributions | $90,771,558 |
| Other contributions (incl. rollovers in) | $12,988,746 |
| Administrative expenses paid from the plan | $748,262 |
| Benefits paid out | $181,566,599 |
| Net assets, start / end of year | $1.7B / $1.9B |
| Active participants, start / end of year | 18,007 / 18,139 |
| Participants with account balances | 23,037 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Plante Moran |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company | $953,989 reported compensation |
| Empower Advisory Group, LLC | $179,684 reported compensation |
| Mclaren Health Care Corporation DBA | $129,132 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250924145750NAL0008804736001, received 2025-09-24, EIN 38-2397643, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.