The Surgery Center at Southwoods, LLC 401(k) Review & Grade
Southwoods Health 401(k) Plan
Boardman, OHHealth Care & Social Assistance1,102 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,247Employer $ per active participant
$4,096Employee $ saved per active participant
0.07%Direct admin cost, % of plan assets
$59.1MNet plan assets, end of year
$40,562Average balance per account
Score breakdown
- Employer generosity37.4 / 5075th percentile for employer $ per participant
- Low cost20.2 / 2581th percentile for low admin cost vs. same-size plans
- Employee saving10.4 / 1569th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score71 / 100 · Grade B
This plan vs. peers
Peers: Health Care & Social Assistance plans with 500–2,499 active participants (1,427 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 75th |
| Lower admin cost | 81th |
| Employee saving | 69th |
| Peers that auto-enroll | 36% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Surgery Center at Southwoods put in about $2,247 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.
- 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 | $2,477,517 |
| Participant (employee) contributions | $4,515,364 |
| Other contributions (incl. rollovers in) | $563,541 |
| Administrative expenses paid from the plan | $40,948 |
| Contract administrator fees | $40,948 |
| Benefits paid out | $8,602,277 |
| Net assets, start / end of year | $52.6M / $59.1M |
| Active participants, start / end of year | 1,081 / 1,124 |
| Participants with account balances | 1,458 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Packer Thomas |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014192555NAL0007245570001, received 2025-10-14, EIN 42-1562638, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.