Norwood Clinic, Inc.401(k)
NORWOOD CLINIC, INC. 401(K) PROFIT SHARING RETIREMENT PLAN · FULTONDALE, AL · plan year 2022
Peer grade: A- · admin costs + employer contributions vs same-size plans · how grading works
Norwood Clinic, Inc. reported $47,644 in plan administrative expenses for 2022: 0.18% of average plan assets, below the peer median. Employer contributions averaged $5,308 per active participant. This ratio covers administrative expenses reported on the plan's Schedule H only; fund-level expense ratios are not included in public structured data — see methodology.
Across the 1 year on file its reported administrative ratio rose from 0.18% to 0.36%. The plan sits in the $10M–$50M size bracket, benchmarked here against 26,806 comparable plans and shown alongside other health care & social assistance employers. By assets it is the 267th-largest of 902 plans among Alabama employers on file, and the 3,213th of 11,911 in health care & social assistance. In 2022, employees put in $2.00 for every $1.00 the employer contributed.
Norwood Clinic, Inc.'s 2022 employer contribution ran above the $2,266 median for plans its size, placing it in the top quarter of its peers. Filings report dollars actually contributed, not the match formula; the formula itself (for example, 50% of the first 6% of pay) lives in the plan's summary plan description from HR.
Annual cost at the plan's reported 2022 administrative ratio, against the median plan its size; fund expense ratios are extra. Compare any plan.
Why are you looking at this plan?
Source: U.S. Department of Labor, Form 5500 series, EIN 630715625 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.