Saint Luke's Health System 401(k) Review & Grade
Saint Luke's 403(b) Plan
Kansas City, MOHealth Care & Social Assistance13,070 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$0Employer $ per active participant
$6,553Employee $ saved per active participant
0.15%Direct admin cost, % of plan assets
$960.9MNet plan assets, end of year
$61,496Average balance per account
Score breakdown
- Employer generosity2.2 / 504th percentile for employer $ per participant
- Low cost7.0 / 2528th percentile for low admin cost vs. same-size plans
- Employee saving12.4 / 1582th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score29 / 100 · Grade F
This plan vs. peers
Peers: Health Care & Social Assistance plans with 10,000+ active participants (115 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 4th |
| Lower admin cost | 28th |
| Employee saving | 82th |
| Peers that auto-enroll | 52% |
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Red flags from the filing
Corrective distributions: the plan refunded $26,726 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Saint Luke's Health System put in about $0 per active participant, below the typical peer ($2,086). 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 (0.15% of assets) are well above similar-size plans (0.09%). 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 | $16 |
| Participant (employee) contributions | $85,653,622 |
| Other contributions (incl. rollovers in) | $13,957,405 |
| Administrative expenses paid from the plan | $1,344,017 |
| Contract administrator fees | $2,100 |
| Investment advisory & management fees | $485,332 |
| Other admin expenses | $26,703 |
| Benefits paid out | $82,624,818 |
| Net assets, start / end of year | $831.1M / $960.9M |
| Active participants, start / end of year | 12,722 / 13,418 |
| Participants with account balances | 15,626 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Ernst & Young LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $1,008,951 reported compensation |
| Strategic Advisors, Inc. | $313,487 reported compensation |
| Captrust | $26,703 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251012112733NAL0000092819001, received 2025-10-12, EIN 43-1747502, plan #004, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.