The University of Vermont Health Network 403b) Retirement Savings Plan 401(k) Review & Grade
The University of Vermont Medical Center 403(b) Plan
Burlington, VTHealth Care & Social Assistance12,864 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$5,284Employer $ per active participant
$7,012Employee $ saved per active participant
0.08%Direct admin cost, % of plan assets
$2.2BNet plan assets, end of year
$136,919Average balance per account
Score breakdown
- Employer generosity47.8 / 5096th percentile for employer $ per participant
- Low cost13.1 / 2552th percentile for low admin cost vs. same-size plans
- Employee saving13.3 / 1589th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score81 / 100 · Grade A
This plan vs. peers
Peers: Health Care & Social Assistance plans with 10,000+ active participants (115 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 96th |
| Lower admin cost | 52th |
| Employee saving | 89th |
| Peers that auto-enroll | 52% |
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Red flags from the filing
Corrective distributions: the plan refunded $28,099 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- University of Vermont Health Network 403b) Retirement Savings Plan put in about $5,284 per active participant, more than the typical peer ($2,086). 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 | $67,971,696 |
| Participant (employee) contributions | $90,203,547 |
| Other contributions (incl. rollovers in) | $12,184,603 |
| Administrative expenses paid from the plan | $1,715,154 |
| Investment advisory & management fees | $839,802 |
| Other admin expenses | $24,644 |
| Benefits paid out | $176,030,039 |
| Net assets, start / end of year | $2.0B / $2.2B |
| Active participants, start / end of year | 12,486 / 13,241 |
| Participants with account balances | 16,212 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Mcsoley Mccoy & Co |
Largest service providers (Schedule C)
| Fid Inv Inst Ops Co | $1,201,647 reported compensation |
| Strategic Advisers | $367,879 reported compensation |
| Capfinancial Partners, LLC | $93,176 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013142422NAL0003254354001, received 2025-10-13, EIN 03-0219309, plan #006, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.