Meritus Medical Center, Inc. 401(k) Review & Grade
Meritus Health 401(k) Savings Plan
Hagerstown, MDHealth Care & Social Assistance3,388 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,964Employer $ per active participant
$4,975Employee $ saved per active participant
0.13%Direct admin cost, % of plan assets
$397.2MNet plan assets, end of year
$87,139Average balance per account
Score breakdown
- Employer generosity40.7 / 5081th percentile for employer $ per participant
- Low cost12.0 / 2548th percentile for low admin cost vs. same-size plans
- Employee saving10.8 / 1572th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score74 / 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 | 81th |
| Lower admin cost | 48th |
| Employee saving | 72th |
| Peers that auto-enroll | 38% |
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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
- Meritus Medical Center put in about $2,964 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 | $10,041,625 |
| Participant (employee) contributions | $16,856,655 |
| Other contributions (incl. rollovers in) | $8,795,176 |
| Administrative expenses paid from the plan | $480,561 |
| Benefits paid out | $45,201,379 |
| Net assets, start / end of year | $339.3M / $397.2M |
| Active participants, start / end of year | 3,261 / 3,515 |
| Participants with account balances | 4,558 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Smith Elliott Kearns & Company,llc |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company | $480,561 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251008113310NAL0003235603001, received 2025-10-08, EIN 52-0607949, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.