Tenet Healthcare 401(k) match, vesting and fees
What Tenet Healthcare's 401(k) plan says about matching contributions
The employer matching contribution under the Plan is a discretionary amount determined by the Retirement Plans Administration Committee (“RPAC”). For the years ended December 31, 2024 and 2023, the RPAC approved an employer match equal to 50% of pretax and/or Roth after-tax contributions up to a maximum of 6% of eligible compensation. For both years, the participant was required to work a minimum of 1,000 eligible hours of service per calendar year. Certain collective bargaining agreements may allow for a different employer match in accordance with their specific collective bargaining agreement.
Quoted directly from the filing. Plan terms may have changed; check your current Summary Plan Description.
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.
| Employer match | Quoted from the filing above | Audit report, p. 157 ↗ |
| Roth contributions | Participants may contribute up to 75% of their eligible compensation to the Plan as pretax and/or Roth after-tax savings. Instead of, or in addition to, pretax and/or Roth after-tax savings, participants may contribute up to 10% of their eligible compensation as after-tax savings. The total percentage of pretax, Roth after-tax and after-tax savings cannot exceed 85% of a participant’s eligible compensation. The total dollar amount a participant could contribute on a pretax and/or Roth after-tax basis was limited to $23,000 and $22,500, the maximum allowed by the Internal Revenue Service (“IRS”), during the years ended December 31, 2024 and 2023, respectively. | Audit report, p. 157 ↗ |
| Loans | Notes Receivable from Participants — Participants who are active employees may borrow the lesser of 50% of their vested account balance or $50,000, less the highest outstanding loan balance in the previous 12 months, with a minimum loan of $500. Loan transactions are treated as a transfer to (from) the participant’s investment funds from (to) the participant’s loan fund. | Audit report, p. 158 ↗ |
| Recordkeeper | Fidelity Investments Institutional | Schedule C ↗ |
| Independent auditor | Deloitte & Touche (unmodified opinion, limited scope) | Schedule H ↗ |
| Plan type and status | 401(k) · Active | Form 5500 ↗ |
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.
| Tenet Healthcare: employer contribution per participant | $1,114 | |
| Peer median | $1,711 |
| Tenet Healthcare: average balance | $79,972 | |
| Peer median | $88,270 |
| Tenet Healthcare: admin expenses ÷ assets | 0.11% | |
| 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 $8B at the end of plan year 2023 to $8.7B at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 146,003 | $8.7B | $121M | $1,114 | 0.11% | Quoted in the audit report, p. 157 ↗ | Form 5500 ↗ |
| 2023 | 149,730 | $8B | $118M | $1,067 | 0.13% | Not published | Form 5500 ↗ |
Common questions
Does Tenet Healthcare match 401(k) contributions?
The audit report attached to the Tenet Healthcare Corporation 401(k) Retirement Savings Plan's plan year 2024 Form 5500, page 157 says: “The employer matching contribution under the Plan is a discretionary amount determined by the Retirement Plans Administration Committee (“RPAC”). For the years ended December 31, 2024 and 2023, the RPAC approved an employer match equal to 50% of pretax and/or Roth after-tax contributions up to a maximum of 6% of eligible compensation. For both years, the participant was required to work a minimum of 1,000 eligible hours of service per calendar year. Certain collective bargaining agreements may allow for a different employer match in accordance with their specific collective bargaining agreement.” Plan terms may have changed; check your current Summary Plan Description.
When is the Tenet Healthcare 401(k) match vested?
The vesting schedule for the Tenet Healthcare Corporation 401(k) Retirement Savings Plan is not in the data published so far. Your Summary Plan Description states it.
Who manages the Tenet Healthcare 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is Fidelity Investments Institutional. The plan administrator is Tenet Healthcare Corporation.
I left Tenet Healthcare. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Tenet Healthcare Corporation, (469) 893-6538) or the recordkeeper, Fidelity Investments Institutional. The Tenet Healthcare old 401(k) page lists the contacts from every plan filing. Find an old Tenet Healthcare 401(k)
Data from the public Form 5500 annual reports Tenet Healthcare 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 Tenet Healthcare. Not financial advice. Report a correction · Methodology