National Medical Care, Inc. 401(k) Review & Grade
Fresenius Medical Care North America 401(k) Savings Plan · d/b/a Fresenius Medical Care NA
Waltham, MAHealth Care & Social Assistance62,560 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,296Employer $ per active participant
$4,364Employee $ saved per active participant
0.06%Direct admin cost, % of plan assets
$4.4BNet plan assets, end of year
$89,046Average balance per account
Score breakdown
- Employer generosity19.7 / 5039th percentile for employer $ per participant
- Low cost15.7 / 2563th percentile for low admin cost vs. same-size plans
- Employee saving7.0 / 1546th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-23 pts3 issues reported on the filing
Total score22 / 100 · Grade F
This plan vs. peers
Peers: Health Care & Social Assistance plans with 10,000+ active participants (115 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 39th |
| Lower admin cost | 63th |
| Employee saving | 46th |
| Peers that auto-enroll | 52% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($29,124 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Benefits not paid when due: the plan reported failing to pay some benefits on time.
Corrective distributions: the plan refunded $6,214 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- National Medical Care put in about $1,296 per active participant, below the typical peer ($2,086). 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.
- 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 reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- 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 | $81,075,294 |
| Participant (employee) contributions | $273,027,902 |
| Other contributions (incl. rollovers in) | $29,046,322 |
| Administrative expenses paid from the plan | $2,619,673 |
| Investment advisory & management fees | $693,533 |
| Other admin expenses | $604,885 |
| Benefits paid out | $468,882,134 |
| Net assets, start / end of year | $4.0B / $4.4B |
| Active participants, start / end of year | 63,238 / 61,883 |
| Participants with account balances | 49,065 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Withumsmith & Brown, PC |
| Employer stock held by plan | $15,861,109 |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $2,522,905 reported compensation |
| Withum Smith + Brown PC | $116,480 reported compensation |
| New England Retirement Consultants | $55,412 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251007125615NAL0004795969001, received 2025-10-07, EIN 04-2835488, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.