Ochsner Clinic Foundation 401(k) Review & Grade
Ochsner Clinic Foundation 401(k) Plan
New Orleans, LAHealth Care & Social Assistance33,142 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,086Employer $ per active participant
$5,521Employee $ saved per active participant
0.11%Direct admin cost, % of plan assets
$2.7BNet plan assets, end of year
$62,926Average balance per account
Score breakdown
- Employer generosity25.0 / 5050th percentile for employer $ per participant
- Low cost9.5 / 2538th percentile for low admin cost vs. same-size plans
- Employee saving10.0 / 1567th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score52 / 100 · Grade C
This plan vs. peers
Peers: Health Care & Social Assistance plans with 10,000+ active participants (115 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 50th |
| Lower admin cost | 38th |
| Employee saving | 67th |
| Peers that auto-enroll | 52% |
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Red flags from the filing
Corrective distributions: the plan refunded $20,438 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Ochsner Clinic Foundation put in about $2,086 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.
- 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 | $69,127,929 |
| Participant (employee) contributions | $182,969,236 |
| Other contributions (incl. rollovers in) | $19,460,696 |
| Administrative expenses paid from the plan | $2,858,992 |
| Other admin expenses | $2,858,992 |
| Benefits paid out | $192,328,930 |
| Net assets, start / end of year | $2.3B / $2.7B |
| Active participants, start / end of year | 32,229 / 34,054 |
| Participants with account balances | 42,735 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Carr, Riggs, Ingram, L.L.C. |
Largest service providers (Schedule C)
| The Vanguard Group, Inc. | $1,541,174 reported compensation |
| Vanguard Advisers Inc. | $1,453,319 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015111755NAL0002311331001, received 2025-10-15, EIN 72-0502505, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.