Prospect Medical Holdings, Inc. 401(k) Review & Grade
Prospect Medical Retirement Savings Plan B
Culver City, CAHealth Care & Social Assistance6,404 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$301Employer $ per active participant
$4,598Employee $ saved per active participant
0.30%Direct admin cost, % of plan assets
$296.6MNet plan assets, end of year
$44,390Average balance per account
Score breakdown
- Employer generosity18.3 / 5037th percentile for employer $ per participant
- Low cost5.7 / 2523th percentile for low admin cost vs. same-size plans
- Employee saving9.9 / 1566th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score41 / 100 · Grade D
This plan vs. peers
Peers: Health Care & Social Assistance plans with 2,500–9,999 active participants (312 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 37th |
| Lower admin cost | 23th |
| Employee saving | 66th |
| Peers that auto-enroll | 38% |
Get the monthly 401(k) report card
The best and worst plans, new grades as filings post. One email a month, no spam.
Red flags from the filing
Corrective distributions: the plan refunded $288,726 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Prospect Medical Holdings put in about $301 per active participant, below the typical peer ($800). 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 (0.30% 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.
- 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 | $1,928,489 |
| Participant (employee) contributions | $29,448,349 |
| Other contributions (incl. rollovers in) | $890,466 |
| Administrative expenses paid from the plan | $838,807 |
| Contract administrator fees | $659,540 |
| Investment advisory & management fees | $82,503 |
| Benefits paid out | $39,387,931 |
| Net assets, start / end of year | $264.9M / $296.6M |
| Active participants, start / end of year | 6,358 / 6,451 |
| Participants with account balances | 6,682 |
| Auto-enrollment (feature code 2S) | Yes |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $667,090 reported compensation |
| Morgan Stanley | $82,583 reported compensation |
| Bdo | $65,916 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013130346NAL0002963218001, received 2025-10-13, EIN 33-0564370, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.