# Sparrow Health System 401(k) Plan
Source: https://planprovider.pro/companies/sparrow-health-system-401k-plan

> Sparrow Health System's 401(k) plan: 8,310 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## Plan Snapshot

- **Plan Sponsor:** Sparrow Health System

- **Sponsor EIN:** 382542859

- **Sponsor Address:** 1200 EAST MICHIGAN, SUITE 235, LANSING, MI, 48912

- **Plan Type:** 401(k)

- **Total Participants:** 8,310

- **Total Assets:** $806.5M

## Key Plan Design Features

- **Auto-Enrollment:** Yes

- **Auto-Escalation:** No

- **Allows Roth Contributions:** Yes

- **Participant Loans:** Yes

- **Participant-Directed Investments:** Yes

- **ERISA Section 404(c) Fiduciary Safe Harbor:** Yes

## Plan Financials by Year

| Year|Participants|Total Assets|Employer Contrib.|Employee Contrib.|

| 2024|8,310|$806.5M|$30.4M|$45.4M|

| 2023|4,258|$691.6M|$27.6M|$41.5M|

| 2022|3,646|$563.2M|$27.7M|$40.9M|

## Service Providers (Schedule C)

Vendors paid $5,000 or more for services to the plan, ranked by total compensation (direct + indirect fees).

| Provider Name|
Role|
Direct Compensation|
Indirect Compensation|
Total Fees|

| TRANSAMERICA RETIREMENT SOLUTIONS|RECORDKEEPER|$911,204|—|$911,204|

| MORNINGSTAR INVESTMENT SERVICE|ADVISOR|$8,340|—|$8,340|

| FINANCIAL STRATEGIES GROUP INC|ADVISOR|$5,641|—|$5,641|

| ANDREWS HOOPER PAVLIK PLC|Auditor|—|—|$0|

### Verified Provider Profiles

Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:

- [TRANSAMERICA RETIREMENT SOLUTIONS](https://planprovider.pro/provider/transamerica) — RECORDKEEPER

- [ANDREWS HOOPER PAVLIK PLC](https://planprovider.pro/provider/andrews-hooper-pavlik-plc) — Auditor

## Plan Fees & Expenses

Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.

- **Total Service Provider Fees:** $925,185

- **Estimated Expense Ratio:** 0.115% of plan assets

### Historical Administrative Expenses

Breakdown of administrative expense categories reported on Form 5500 filings.

| Year|
Total Admin Expenses|
Investment Mgmt Fees|
Contract Admin Fees|
IQPA Audit Fees|
Professional Fees|

| 2024|$933,280|$22,076|—|—|—|

| 2023|$780,405|$19,732|—|—|—|

| 2022|$861,092|$20,972|—|—|—|

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