Oak Street Health Mso, LLC 401(k) Review & Grade
Oak Street Health, 401(k) Plan
Chicago, ILHealth Care & Social Assistance7,870 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,082Employer $ per active participant
$4,234Employee $ saved per active participant
0.29%Direct admin cost, % of plan assets
$199.0MNet plan assets, end of year
$34,607Average balance per account
Score breakdown
- Employer generosity35.4 / 5071th percentile for employer $ per participant
- Low cost5.9 / 2523th percentile for low admin cost vs. same-size plans
- Employee saving9.6 / 1564th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score51 / 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 | 71th |
| Lower admin cost | 23th |
| Employee saving | 64th |
| Peers that auto-enroll | 38% |
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Red flags from the filing
Corrective distributions: the plan refunded $5,402 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Oak Street Health Mso put in about $2,082 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.
- Direct plan expenses (0.29% of assets) are well above similar-size plans (0.12%). 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 | $16,383,870 |
| Participant (employee) contributions | $33,321,034 |
| Other contributions (incl. rollovers in) | $8,962,673 |
| Administrative expenses paid from the plan | $497,576 |
| Investment advisory & management fees | $116,207 |
| Benefits paid out | $19,631,148 |
| Net assets, start / end of year | $138.9M / $199.0M |
| Active participants, start / end of year | 7,076 / 8,665 |
| Participants with account balances | 5,749 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Crowe LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $381,369 reported compensation |
| Strategic Advisors, Inc. | $66,207 reported compensation |
| Kestra Investment Services LLC | $50,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20260316133806NAL0001845072001, received 2026-03-16, EIN 46-2055165, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.