Sky Lakes Medical Center, Inc. 401(k) Review & Grade
Sky Lakes Medical Center 401(k)
Klamath Falls, ORHealth Care & Social Assistance1,689 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$3,763Employer $ per active participant
$6,347Employee $ saved per active participant
0.05%Direct admin cost, % of plan assets
$164.7MNet plan assets, end of year
$77,510Average balance per account
Score breakdown
- Employer generosity43.3 / 5087th percentile for employer $ per participant
- Low cost21.9 / 2587th percentile for low admin cost vs. same-size plans
- Employee saving13.5 / 1590th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-23 pts3 issues reported on the filing
Total score59 / 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 | 87th |
| Lower admin cost | 87th |
| Employee saving | 90th |
| Peers that auto-enroll | 36% |
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
Late deposits: the filing says some employee contributions were not sent to the plan on time ($3,394 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Benefits not paid when due: the plan reported failing to pay some benefits on time.
Corrective distributions: the plan refunded $2,238 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Sky Lakes Medical Center put in about $3,763 per active participant, more than the typical peer ($976). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- 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 reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- 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 | $6,356,037 |
| Participant (employee) contributions | $10,719,712 |
| Other contributions (incl. rollovers in) | $976,444 |
| Administrative expenses paid from the plan | $75,333 |
| Investment advisory & management fees | $112,983 |
| Benefits paid out | $12,174,193 |
| Net assets, start / end of year | $138.4M / $164.7M |
| Active participants, start / end of year | 1,649 / 1,729 |
| Participants with account balances | 2,125 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Baker Tilly US, LLP |
Largest service providers (Schedule C)
| Strategic Advisors, Inc. | $42,457 reported compensation |
| Fidelity Investments Institutional | $32,981 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014192418NAL0004858032001, received 2025-10-14, EIN 93-0508781, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.