Sid Peterson Memorial Hospital 401(k) Review & Grade
Sid Peterson Memorial Hospital 401(k) Savings and Profit Sharing Plan
Kerrville, TXHealth Care & Social Assistance1,294 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$956Employer $ per active participant
$4,005Employee $ saved per active participant
0.34%Direct admin cost, % of plan assets
$67.3MNet plan assets, end of year
$44,235Average balance per account
Score breakdown
- Employer generosity24.8 / 5050th percentile for employer $ per participant
- Low cost9.1 / 2536th percentile for low admin cost vs. same-size plans
- Employee saving10.3 / 1569th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score51 / 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 | 50th |
| Lower admin cost | 36th |
| Employee saving | 69th |
| Peers that auto-enroll | 36% |
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Red flags from the filing
Corrective distributions: the plan refunded $41,024 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Sid Peterson Memorial Hospital put in about $956 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.
- 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 | $1,237,215 |
| Participant (employee) contributions | $5,184,038 |
| Other contributions (incl. rollovers in) | $1,044,735 |
| Administrative expenses paid from the plan | $215,237 |
| Investment advisory & management fees | $7,947 |
| Benefits paid out | $8,304,056 |
| Net assets, start / end of year | $60.0M / $67.3M |
| Active participants, start / end of year | 1,291 / 1,298 |
| Participants with account balances | 1,521 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Lane Gorman Tribitt, LLC |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company O | $207,290 reported compensation |
| TBS Agency Inc | $20,477 reported compensation |
| Empower Advisory Group, LLC | $7,947 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251008134442NAL0009525744001, received 2025-10-08, EIN 74-2557820, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.