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Grade My 401(k)
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1 issue

Mclaren Health Care Corp.

38-2397643· Grand Blanc, MI· Empower· 2025 filing· vs 76 plans your size
C
0/100
Overall grade

Middle of the pack, with clear ways to do better.

C
Fees
C
Financial Wellness
C
Plan design
B
Compliance
Fees

Your plan pays around 6 bps of assets per year. Similar plans pay around 9 bps. Your plan is a bit cheaper than most similar plans.

C
cheaper36th percentilepricier
Financial Wellness

Middle-of-the-pack savings. Employees put away $5,326/employee a year. That's about average for plans this size.

C
lower57th percentilehigher
Plan design

The employer contributes through profit sharing rather than a standard match.

C
Employer contributes via profit sharing
No standard match, but the employer puts money in through profit sharing. Often a flat percentage to everyone, which works like a match for employees.
Automatic enrollment
New hires are enrolled by default. Plans with auto-enroll see much higher participation.
Safe harbor not reported
The filing does not establish whether this plan uses a safe harbor design, so it does not affect the grade.
Default investment (QDIA)
Employees who never pick investments land in a sensible default, usually a target-date fund, instead of cash.
No brokerage window
Employees can only invest through the plan's core fund menu. A brokerage window opens the wider market for people who want more control.
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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Empower

No provider notes available.

Key insights

  • Strongest area: compliance & health. 1 item to review, nothing critical.
  • Best place to improve: financial wellness. Middle-of-the-pack savings. Employees put away $5,326/employee a year. That's about average for plans this size.
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