Tufts Medicine, Inc. 401(k) Review & Grade
Tufts Medicine, Inc. 403(b) Retirement Plan
Burlington, MAHealth Care & Social Assistance11,341 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,435Employer $ per active participant
$5,105Employee $ saved per active participant
0.07%Direct admin cost, % of plan assets
$991.9MNet plan assets, end of year
$88,542Average balance per account
Score breakdown
- Employer generosity21.9 / 5044th percentile for employer $ per participant
- Low cost13.9 / 2556th percentile for low admin cost vs. same-size plans
- Employee saving8.6 / 1557th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score44 / 100 · Grade D
This plan vs. peers
Peers: Health Care & Social Assistance plans with 10,000+ active participants (115 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 44th |
| Lower admin cost | 56th |
| Employee saving | 57th |
| Peers that auto-enroll | 52% |
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Red flags from the filing
Corrective distributions: the plan refunded $29,267 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Tufts Medicine put in about $1,435 per active participant, below the typical peer ($2,086). Any match is still an instant return, so contribute enough to get all of it.
- 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 | $16,270,694 |
| Participant (employee) contributions | $57,897,089 |
| Other contributions (incl. rollovers in) | $12,293,418 |
| Administrative expenses paid from the plan | $694,146 |
| Investment advisory & management fees | $109,407 |
| Other admin expenses | $92,612 |
| Benefits paid out | $93,820,655 |
| Net assets, start / end of year | $861.7M / $991.9M |
| Active participants, start / end of year | 11,553 / 11,129 |
| Participants with account balances | 11,203 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Cbiz Cpa's P.C |
Largest service providers (Schedule C)
| Fid Inv Inst Ops | $381,673 reported compensation |
| Strategic Advisors, Inc. | $95,309 reported compensation |
| Willis Towers Watson US LLC | $80,663 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015120622NAL0009124402001, received 2025-10-15, EIN 47-2250732, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.