Thundermist Health Center 401(k) Review & Grade
403(b) Thrift Plan for Employees of Thundermist Health Center
Warwick, RIHealth Care & Social Assistance870 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,503Employer $ per active participant
$3,881Employee $ saved per active participant
0.03%Direct admin cost, % of plan assets
$52.9MNet plan assets, end of year
$49,002Average balance per account
Score breakdown
- Employer generosity38.8 / 5078th percentile for employer $ per participant
- Low cost23.0 / 2592th percentile for low admin cost vs. same-size plans
- Employee saving10.1 / 1567th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score82 / 100 · Grade A
This plan vs. peers
Peers: Health Care & Social Assistance plans with 500–2,499 active participants (1,427 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 78th |
| Lower admin cost | 92th |
| Employee saving | 67th |
| 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
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Thundermist Health Center put in about $2,503 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 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 | $2,177,499 |
| Participant (employee) contributions | $3,376,678 |
| Other contributions (incl. rollovers in) | $1,726,546 |
| Administrative expenses paid from the plan | $16,315 |
| Other admin expenses | $16,315 |
| Benefits paid out | $3,852,670 |
| Net assets, start / end of year | $43.3M / $52.9M |
| Active participants, start / end of year | 939 / 801 |
| Participants with account balances | 1,080 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Aafcpas Inc. |
Largest service providers (Schedule C)
| Mutual of America Investment Corp | $15,849 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250731113634NAL0010389266001, received 2025-07-31, EIN 05-0355097, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.