Murphy Medical Center, Inc. 401(k) Review & Grade
Erlanger Health Not for Profit 403(b) Retirement Savings Plan
Murphy, NCHealth Care & Social Assistance556 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,850Employer $ per active participant
$2,515Employee $ saved per active participant
0.07%Direct admin cost, % of plan assets
$24.7MNet plan assets, end of year
$49,097Average balance per account
Score breakdown
- Employer generosity34.3 / 5069th percentile for employer $ per participant
- Low cost20.7 / 2583th percentile for low admin cost vs. same-size plans
- Employee saving7.4 / 1549th percentile for employee $ per participant
- Plan features0 / 10No auto-enrollment or default investment reported
Total score62 / 100 · Grade B
This plan vs. peers
Peers: Health Care & Social Assistance plans with 500–2,499 active participants (1,427 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 69th |
| Lower admin cost | 83th |
| Employee saving | 49th |
| Peers that auto-enroll | 36% |
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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
- Murphy Medical Center put in about $1,850 per active participant, more than the typical peer ($976). 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 | $1,027,560 |
| Participant (employee) contributions | $1,396,970 |
| Other contributions (incl. rollovers in) | $603,418 |
| Administrative expenses paid from the plan | $15,151 |
| Other admin expenses | $3,668 |
| Benefits paid out | $2,399,736 |
| Net assets, start / end of year | $21.3M / $24.7M |
| Active participants, start / end of year | 356 / 755 |
| Participants with account balances | 504 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Johson, Hickey, &murchison, P.C |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company O | $11,483 reported compensation |
| Prudential Retirement Insurance and | $3,643 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015135318NAL0002400259001, received 2025-10-15, EIN 56-1844262, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.