Redington Fairview General Hospital 401(k) Review & Grade
Redington-Fairview General Hospital 403(b) Plan
Skowhegan, MEHealth Care & Social Assistance830 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$739Employer $ per active participant
$4,680Employee $ saved per active participant
0.10%Direct admin cost, % of plan assets
$59.8MNet plan assets, end of year
$63,780Average balance per account
Score breakdown
- Employer generosity21.7 / 5043th percentile for employer $ per participant
- Low cost18.7 / 2575th percentile for low admin cost vs. same-size plans
- Employee saving11.3 / 1575th percentile for employee $ per participant
- Plan features3 / 10Default 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 500–2,499 active participants (1,427 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 43th |
| Lower admin cost | 75th |
| Employee saving | 75th |
| Peers that auto-enroll | 36% |
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Red flags from the filing
Corrective distributions: the plan refunded $656 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Redington Fairview General Hospital put in about $739 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.
- 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.
- 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 | $613,052 |
| Participant (employee) contributions | $3,884,497 |
| Other contributions (incl. rollovers in) | $479,793 |
| Administrative expenses paid from the plan | $54,770 |
| Investment advisory & management fees | $17,986 |
| Benefits paid out | $4,444,387 |
| Net assets, start / end of year | $53.0M / $59.8M |
| Active participants, start / end of year | 810 / 850 |
| Participants with account balances | 938 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Wipfli, LLP |
Largest service providers (Schedule C)
| Epic Retirement Plan Services | $36,784 reported compensation |
| Charles Schwab Trust Bank | $23,636 reported compensation |
| Guidance Point Retirement Svcs, LLC | $17,986 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014150609NAL0006496738001, received 2025-10-14, EIN 01-0284446, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.