Multicare Health System 401(k) Review & Grade
Multicare Health System 401(k) Plan
Tacoma, WAHealth Care & Social Assistance7,282 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,737Employer $ per active participant
$5,051Employee $ saved per active participant
0.11%Direct admin cost, % of plan assets
$779.1MNet plan assets, end of year
$70,192Average balance per account
Score breakdown
- Employer generosity32.6 / 5065th percentile for employer $ per participant
- Low cost13.5 / 2554th percentile for low admin cost vs. same-size plans
- Employee saving10.9 / 1573th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score57 / 100 · Grade C
This plan vs. peers
Peers: Health Care & Social Assistance plans with 2,500–9,999 active participants (312 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 65th |
| Lower admin cost | 54th |
| Employee saving | 73th |
| Peers that auto-enroll | 38% |
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Red flags from the filing
Corrective distributions: the plan refunded $17,024 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Multicare Health System put in about $1,737 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.
- 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 | $12,650,666 |
| Participant (employee) contributions | $36,781,591 |
| Other contributions (incl. rollovers in) | $8,679,402 |
| Administrative expenses paid from the plan | $625,170 |
| Other admin expenses | $1,200 |
| Benefits paid out | $51,185,810 |
| Net assets, start / end of year | $353.6M / $779.1M |
| Active participants, start / end of year | 5,537 / 9,028 |
| Participants with account balances | 11,099 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Baker Tilly US, LLP |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company | $623,969 reported compensation |
| Northern Capital Management | $11,779 reported compensation |
| Charles Schwab & Co., Inc | $1,151 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015121415NAL0009153970001, received 2025-10-15, EIN 91-1352172, plan #005, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.