Point32health 401(k) Review & Grade
Point32health 401(k) Plan
Watertown, MAFinance & Insurance4,346 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$7,209Employer $ per active participant
$10,759Employee $ saved per active participant
0.04%Direct admin cost, % of plan assets
$1.3BNet plan assets, end of year
$209,576Average balance per account
Score breakdown
- Employer generosity39.1 / 5078th percentile for employer $ per participant
- Low cost20.8 / 2583th percentile for low admin cost vs. same-size plans
- Employee saving11.0 / 1573th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score68 / 100 · Grade B
This plan vs. peers
Peers: Finance & Insurance plans with 2,500–9,999 active participants (199 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 78th |
| Lower admin cost | 83th |
| Employee saving | 73th |
| Peers that auto-enroll | 66% |
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Red flags from the filing
Benefits not paid when due: the plan reported failing to pay some benefits on time.
Corrective distributions: the plan refunded $22,841 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Point32health put in about $7,209 per active participant, more than the typical peer ($4,489). 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 | $31,330,765 |
| Participant (employee) contributions | $46,756,723 |
| Other contributions (incl. rollovers in) | $8,019,565 |
| Administrative expenses paid from the plan | $521,615 |
| Contract administrator fees | $300 |
| Investment advisory & management fees | $444,607 |
| Other admin expenses | $76,708 |
| Benefits paid out | $121,875,759 |
| Net assets, start / end of year | $1.2B / $1.3B |
| Active participants, start / end of year | 4,455 / 4,237 |
| Participants with account balances | 6,339 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Ernst & Young |
Largest service providers (Schedule C)
| Strategic Advisors, Inc. | $444,607 reported compensation |
| Captrust | $76,708 reported compensation |
| Fidelity Investments Institutional | −$1,541,633 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251007114801NAL0002435731001, received 2025-10-07, EIN 04-2985923, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.