Athenahealth, Inc. 401(k) Review & Grade
Athenahealth, Inc. 401(k) Plan
Boston, MAAdministrative, Support & Staffing Services4,628 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3,542Employer $ per active participant
$13,112Employee $ saved per active participant
0.06%Direct admin cost, % of plan assets
$826.6MNet plan assets, end of year
$123,503Average balance per account
Score breakdown
- Employer generosity47.2 / 5094th percentile for employer $ per participant
- Low cost18.7 / 2575th percentile for low admin cost vs. same-size plans
- Employee saving14.9 / 1599th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score88 / 100 · Grade A
This plan vs. peers
Peers: Administrative, Support & Staffing Services plans with 2,500–9,999 active participants (125 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 94th |
| Lower admin cost | 75th |
| Employee saving | 99th |
| Peers that auto-enroll | 22% |
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Red flags from the filing
Corrective distributions: the plan refunded $22,405 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Athenahealth put in about $3,542 per active participant, more than the typical peer ($342). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- The filing shows total dollars, not the match formula. Ask HR for the Summary Plan Description so you know the exact match and vesting schedule.
- Fund expense ratios aren't in the filing. Look them up in your 404(a)(5) fee disclosure and favor low-cost index or target-date funds.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- Changing jobs? You can usually leave the money in the plan, move it to your new employer's plan, or roll it into an IRA. Don't cash out: you'd owe taxes and possibly a 10% penalty.
The raw numbers from the filing
| Employer contributions | $16,390,456 |
| Participant (employee) contributions | $60,677,539 |
| Other contributions (incl. rollovers in) | $9,294,502 |
| Administrative expenses paid from the plan | $436,433 |
| Contract administrator fees | $900 |
| Investment advisory & management fees | $77,305 |
| Other admin expenses | $68,750 |
| Benefits paid out | $51,888,355 |
| Net assets, start / end of year | $689.2M / $826.6M |
| Active participants, start / end of year | 4,627 / 4,628 |
| Participants with account balances | 6,693 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Deloitte & Touche LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $290,378 reported compensation |
| Strategic Advisors, Inc. | $77,305 reported compensation |
| Mercer | $68,750 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013164733NAL0001728913001, received 2025-10-13, EIN 04-3387530, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.