Providence Health & Services 401(k) match, vesting and fees
What Providence Health & Services' 401(k) plan says about matching contributions
Plan features
Indented passages are quoted word for word from the audit report; plan terms may have changed since, so check your current Summary Plan Description.
| Automatic enrollment | The Plan includes a provision whereby participants are automatically enrolled approximately 45 days after their hire or rehire date at a 6% deferral rate unless they elect a different deferral rate or decline enrollment in the Plan. Participants that are automatically enrolled will have their deferral rate increase by 1% each year, up to a maximum of 10%, unless otherwise elected. | Audit report, p. 34 ↗ |
| Roth contributions | Contributions - Participants may elect to defer up to 75% of their eligible compensation as pre-tax or Roth contributions. | Audit report, p. 34 ↗ |
| Loans | Notes Receivable From Participants - Participants may borrow from their account a minimum of $1,000 up to a maximum equal to the lesser of $50,000 or 50% of their vested account balance. Loans are secured by the balance in the participant’s account. | Audit report, p. 36 ↗ |
| Recordkeeper | Fidelity Investments Institutional | Schedule C ↗ |
| Independent auditor | Clark Nuber, P.S. (unmodified opinion, limited scope) | Schedule H ↗ |
| Plan type and status | 401(k) · Active | Form 5500 ↗ |
| Late participant contributions | Reported on the filing | Schedule H ↗ |
All rows are from the plan year 2024 filing; plan features from its audit report.
How the plan compares
Plan year 2024 medians for 31 defined-contribution plans in health care and social assistance with 50,000 or more participants.
| Providence Health & Services: employer contribution per participant | $4,950 | |
| Peer median | $1,711 |
| Providence Health & Services: average balance | $93,271 | |
| Peer median | $88,270 |
| Providence Health & Services: admin expenses ÷ assets | 0.07% | |
| Peer median | 0.07% |
Admin expenses are the plan's reported administrative expenses divided by its assets; they do not include fund expense ratios.
Plan history
Plan assets went from $8.1B at the end of plan year 2023 to $10.1B at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 119,632 | $10.1B | $535M | $4,950 | 0.07% | Not published | Form 5500 ↗ |
| 2023 | 109,907 | $8.1B | $486M | $4,635 | 0.08% | Not published | Form 5500 ↗ |
Other Providence Health & Services plans (2)
Each plan files its own Form 5500. Figures are from each plan's latest filing.
Providence Health & Services 403(b) Value Plan
Plan features
Match, vesting and enrollment details have not been published from this plan's audit report yet. The figures below come from the structured filing.
| Recordkeeper | Fidelity | Schedule C ↗ |
| Independent auditor | Clark Nuber P.S (disclaimer opinion, limited scope) | Schedule H ↗ |
| Plan type and status | 401(k) · Active | Form 5500 ↗ |
Willamette Falls Hospital Pension Plan
Plan features
Match, vesting and enrollment details have not been published from this plan's audit report yet. The figures below come from the structured filing.
| Independent auditor | Clark Nuber P.S. (unmodified opinion, limited scope) | Schedule H ↗ |
| Plan type and status | Pension (defined benefit) · Frozen | Form 5500 ↗ |
Common questions
Does Providence Health & Services match 401(k) contributions?
The match terms for the 401(k) Savings Plan have not been published from its filing yet. The plan year 2024 filing reports $535M in employer contributions, about $4,950 per participant. That total includes any match and profit-sharing; it is not a match formula.
When is the Providence Health & Services 401(k) match vested?
The vesting schedule for the 401(k) Savings Plan is not in the data published so far. Your Summary Plan Description states it.
Who manages the Providence Health & Services 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is Fidelity Investments Institutional. The plan administrator is Providence Health & Services.
I left Providence Health & Services. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Providence Health & Services, (888) 687-3753) or the recordkeeper, Fidelity Investments Institutional. The Providence Health & Services old 401(k) page lists the contacts from every plan filing. Find an old Providence Health & Services 401(k)
Data from the public Form 5500 annual reports Providence Health & Services filed with the U.S. Department of Labor (plan years 2023 and 2024) and, where noted, the attached independent auditor's report. Plan terms may have changed since the filing; check your current Summary Plan Description. PlanFacts is not affiliated with Providence Health & Services. Not financial advice. Report a correction · Methodology