Piedmont Healthcare, P.A. 401(k) Review & Grade
Piedmont Healthcare Employees' 401k Plan and Trust
Statesville, NCHealth Care & Social Assistance886 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$7,203Employer $ per active participant
$5,969Employee $ saved per active participant
0.12%Direct admin cost, % of plan assets
$177.0MNet plan assets, end of year
$135,596Average balance per account
Score breakdown
- Employer generosity47.6 / 5095th percentile for employer $ per participant
- Low cost17.2 / 2569th percentile for low admin cost vs. same-size plans
- Employee saving13.2 / 1588th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score88 / 100 · Grade A
This plan vs. peers
Peers: Health Care & Social Assistance plans with 500–2,499 active participants (1,427 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 95th |
| Lower admin cost | 69th |
| Employee saving | 88th |
| 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
- Piedmont Healthcare, P.A. put in about $7,203 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.
- 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 | $6,381,659 |
| Participant (employee) contributions | $5,288,499 |
| Other contributions (incl. rollovers in) | $543,258 |
| Administrative expenses paid from the plan | $209,723 |
| Contract administrator fees | $11,000 |
| Investment advisory & management fees | $149,350 |
| Benefits paid out | $21,695,432 |
| Net assets, start / end of year | $164.1M / $177.0M |
| Active participants, start / end of year | 901 / 871 |
| Participants with account balances | 1,305 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Carr, Riggs, and Ingram LLC |
Largest service providers (Schedule C)
| Capfinancial Partners LLC | $149,350 reported compensation |
| Empower Annuity Insurance Company | $48,943 reported compensation |
| Carr, Riggs, & Ingram | $19,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250805111322NAL0001778225001, received 2025-08-05, EIN 56-1965983, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.