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Grade My 401(k)
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1 issue

Indiana University Health Inc.

35-1955872· Indianapolis, IN· Empower· 2024 filing· vs 35 plans your size
B
0/100
Overall grade

Solid plan with a few things to improve.

C
Fees
C
Financial Wellness
A
Plan design
B
Compliance
Fees

Your plan pays around 7 bps of assets per year. Similar plans pay around 8 bps. Your plan is a bit cheaper than most similar plans.

C
cheaper41th percentilepricier
Financial Wellness

Middle-of-the-pack savings. Employees put away $5,769/employee a year. That's about average for plans this size.

C
lower60th percentilehigher
Plan design

Well-designed. Has the features that matter most.

A
Employer match
The plan matches employee contributions, the single strongest driver of participation and savings.
Profit sharing
The employer also makes profit-sharing contributions on top of the match.
Automatic enrollment
New hires are enrolled by default. Plans with auto-enroll see much higher participation.
Safe harbor
Guaranteed employer contributions exempt the plan from annual IRS testing, so owners and higher earners can contribute the full limit.
Default investment (QDIA)
Employees who never pick investments land in a sensible default, usually a target-date fund, instead of cash.
Brokerage window
Employees can invest beyond the core fund menu through a self-directed brokerage account.
Compliance & health

1 item to review, nothing critical.

B
Fidelity bond below 10% of BOY assets, ERISA 412 violation
The reported ERISA fidelity bond is below the 10%-of-assets guideline based on beginning-of-year assets. Fast-growing plans can look under-bonded on paper; confirm against the plan's current bond coverage.
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Key insights

  • Strongest area: plan design. Well-designed. Has the features that matter most.
  • Best place to improve: fees. Your plan pays around 7 bps of assets per year. Similar plans pay around 8 bps. Your plan is a bit cheaper than most similar plans.
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