Praxis Health, P.C. 401(k) Review & Grade
Praxis Medical Group 401(k) Plan
Pendleton, ORHealth Care & Social Assistance502 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$540Employer $ per active participant
$5,834Employee $ saved per active participant
0.40%Direct admin cost, % of plan assets
$30.1MNet plan assets, end of year
$50,604Average balance per account
Score breakdown
- Employer generosity18.5 / 5037th percentile for employer $ per participant
- Low cost7.6 / 2530th percentile for low admin cost vs. same-size plans
- Employee saving13.0 / 1587th percentile for employee $ per participant
- Plan features0 / 10No auto-enrollment or default investment reported
- Red-flag deductions-3 pts1 issue reported on the filing
Total score36 / 100 · Grade D
This plan vs. peers
Peers: Health Care & Social Assistance plans with 500–2,499 active participants (1,427 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 37th |
| Lower admin cost | 30th |
| Employee saving | 87th |
| Peers that auto-enroll | 36% |
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Red flags from the filing
Corrective distributions: the plan refunded $17,209 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Praxis Health put in about $540 per active participant, below the typical peer ($976). Any match is still an instant return, so contribute enough to get all of it.
- 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 (0.40% of assets) are well above similar-size plans (0.23%). 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 | $270,671 |
| Participant (employee) contributions | $2,925,668 |
| Other contributions (incl. rollovers in) | $527,790 |
| Administrative expenses paid from the plan | $128,238 |
| Investment advisory & management fees | $50,292 |
| Benefits paid out | $11,374,459 |
| Net assets, start / end of year | $34.0M / $30.1M |
| Active participants, start / end of year | 539 / 464 |
| Participants with account balances | 594 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Jones & Roth |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company | $47,875 reported compensation |
| Empower Advisory Group, LLC | $34,130 reported compensation |
| TPG Financial Advisors | $27,645 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251006150757NAL0003679841002, received 2025-10-06, EIN 93-1224010, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.