Denova Collaborative Health, LLC 401(k) Review & Grade
Denova Collaborative Health 401k Plan
Phoenix, AZHealth Care & Social Assistance500 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,306Employer $ per active participant
$5,083Employee $ saved per active participant
1.02%Direct admin cost, % of plan assets
$12.1MNet plan assets, end of year
$21,828Average balance per account
Score breakdown
- Employer generosity37.7 / 5075th percentile for employer $ per participant
- Low cost1.5 / 256th percentile for low admin cost vs. same-size plans
- Employee saving12.0 / 1580th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score44 / 100 · Grade D
This plan vs. peers
Peers: Health Care & Social Assistance plans with 500–2,499 active participants (1,427 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 75th |
| Lower admin cost | 6th |
| Employee saving | 80th |
| Peers that auto-enroll | 36% |
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Red flags from the filing
Fraud or dishonesty loss: the plan reported a loss caused by fraud or dishonesty during the year.
What to do if you're in this plan
- Denova Collaborative Health put in about $2,306 per active participant, more than the typical peer ($976). 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.
- Direct plan expenses (1.02% of assets) are well above similar-size plans (0.23%). Check your annual fee disclosure, choose low-cost index funds if you can, and think about whether savings beyond the match belong in an IRA.
- 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 | $1,154,255 |
| Participant (employee) contributions | $2,543,934 |
| Other contributions (incl. rollovers in) | – |
| Administrative expenses paid from the plan | $104,499 |
| Contract administrator fees | $15,313 |
| Other admin expenses | $89,186 |
| Benefits paid out | $1,301,598 |
| Net assets, start / end of year | $8.3M / $12.1M |
| Active participants, start / end of year | 508 / 493 |
| Participants with account balances | 556 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Mansperger Patterson & Mcmullin PLC |
Largest service providers (Schedule C)
| Voya Retirement Insurance & Annuity | $16,013 reported compensation |
| Curafin Advisors, LLC | $12,683 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251009121512NAL0011430592001, received 2025-10-09, EIN 86-0485904, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.