Southern Illinois Hospital Services 401(k) Review & Grade
Southern Illinois Healthcare Retirement Savings Plan
Carbondale, ILHealth Care & Social Assistance4,050 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,343Employer $ per active participant
$5,399Employee $ saved per active participant
0.11%Direct admin cost, % of plan assets
$399.3MNet plan assets, end of year
$79,132Average balance per account
Score breakdown
- Employer generosity29.6 / 5059th percentile for employer $ per participant
- Low cost13.4 / 2554th percentile for low admin cost vs. same-size plans
- Employee saving11.4 / 1576th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score61 / 100 · Grade B
This plan vs. peers
Peers: Health Care & Social Assistance plans with 2,500–9,999 active participants (312 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 59th |
| Lower admin cost | 54th |
| Employee saving | 76th |
| Peers that auto-enroll | 38% |
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Red flags from the filing
Corrective distributions: the plan refunded $12,301 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Southern Illinois Hospital Services put in about $1,343 per active participant, more than the typical peer ($800). 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 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 | $5,440,170 |
| Participant (employee) contributions | $21,862,814 |
| Other contributions (incl. rollovers in) | $1,698,994 |
| Administrative expenses paid from the plan | $421,446 |
| Investment advisory & management fees | $58,825 |
| Other admin expenses | $600 |
| Benefits paid out | $35,817,645 |
| Net assets, start / end of year | $357.0M / $399.3M |
| Active participants, start / end of year | 3,980 / 4,119 |
| Participants with account balances | 5,046 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Smith & Howard |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company O | $362,021 reported compensation |
| Cerity Partners Retirement Plan Adv | $58,825 reported compensation |
| Qdro Consultants Company, LLC | $600 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015140023NAL0005061553001, received 2025-10-15, EIN 37-0618939, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.