ML Healthcare Management LLC 401(k) Review & Grade
ML Healthcare
San Antonio, TXHealth Care & Social Assistance892 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$26Employer $ per active participant
$409Employee $ saved per active participant
0.41%Direct admin cost, % of plan assets
$2.3MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity5.3 / 5011th percentile for employer $ per participant
- Low cost7.5 / 2530th percentile for low admin cost vs. same-size plans
- Employee saving1.2 / 158th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score14 / 100 · Grade F
This plan vs. peers
Peers: Health Care & Social Assistance plans with 500–2,499 active participants (1,427 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 11th |
| Lower admin cost | 30th |
| Employee saving | 8th |
| Peers that auto-enroll | 36% |
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Red flags from the filing
Corrective distributions: the plan refunded $14,205 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- ML Healthcare Management put in about $26 per active participant, below the typical peer ($976). 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.
- Direct plan expenses (0.41% of assets) are well above similar-size plans (0.23%). Check your annual fee disclosure, choose low-cost index funds if you can, and think about whether savings beyond the match belong in an IRA.
- 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 | $23,537 |
| Participant (employee) contributions | $364,431 |
| Other contributions (incl. rollovers in) | $35,464 |
| Administrative expenses paid from the plan | $8,619 |
| Benefits paid out | $189,246 |
| Net assets, start / end of year | $1.9M / $2.3M |
| Active participants, start / end of year | 635 / 1,148 |
| Participants with account balances | 166 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Karren, Hendrix, Staff, Allen & Co. |
Largest service providers (Schedule C)
| Kestra Investment Services LLC | $9,965 reported compensation |
| Fidelity Investments Institutional | $8,619 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251010162326NAL0008474065001, received 2025-10-10, EIN 83-3582776, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.