Northwell Health, Inc. 401(k) Review & Grade
Northwell Health 401(k) Plan
Westbury, NYHealth Care & Social Assistance37,086 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$4,706Employer $ per active participant
$7,444Employee $ saved per active participant
0.11%Direct admin cost, % of plan assets
$1.9BNet plan assets, end of year
$42,494Average balance per account
Score breakdown
- Employer generosity46.9 / 5094th percentile for employer $ per participant
- Low cost10.3 / 2541th percentile for low admin cost vs. same-size plans
- Employee saving14.1 / 1594th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score71 / 100 · Grade B
This plan vs. peers
Peers: Health Care & Social Assistance plans with 10,000+ active participants (115 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 94th |
| Lower admin cost | 41th |
| Employee saving | 94th |
| 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 ($16,525 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- Northwell Health put in about $4,706 per active participant, more than the typical peer ($2,086). 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.
- 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 | $174,545,287 |
| Participant (employee) contributions | $276,077,603 |
| Other contributions (incl. rollovers in) | $59,797,549 |
| Administrative expenses paid from the plan | $1,659,549 |
| Investment advisory & management fees | $13,975 |
| Benefits paid out | $95,933,437 |
| Net assets, start / end of year | $1.2B / $1.9B |
| Active participants, start / end of year | 36,562 / 37,611 |
| Participants with account balances | 43,550 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Ernst & Young LLP |
Largest service providers (Schedule C)
| Transamerica Retirement Solutions | $1,571,229 reported compensation |
| Ernst & Young LLP | $68,950 reported compensation |
| Rocaton Investment Advisors | $11,636 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015161137NAL0006720096001, received 2025-10-15, EIN 11-3418133, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.