Devoted Health, Inc. 401(k) Review & Grade
Devoted Health 401(k) Retirement Plan
Waltham, MAFinance & Insurance2,412 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$373Employer $ per active participant
$6,064Employee $ saved per active participant
0.05%Direct admin cost, % of plan assets
$66.3MNet plan assets, end of year
$34,155Average balance per account
Score breakdown
- Employer generosity2.2 / 504th percentile for employer $ per participant
- Low cost21.8 / 2587th percentile for low admin cost vs. same-size plans
- Employee saving5.3 / 1535th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score36 / 100 · Grade D
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 4th |
| Lower admin cost | 87th |
| Employee saving | 35th |
| Peers that auto-enroll | 62% |
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Red flags from the filing
Corrective distributions: the plan refunded $227,478 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Devoted Health put in about $373 per active participant, below the typical peer ($3,606). Any match is still an instant return, so contribute enough to get all of it.
- 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 | $899,343 |
| Participant (employee) contributions | $14,629,884 |
| Other contributions (incl. rollovers in) | $4,579,612 |
| Administrative expenses paid from the plan | $27,607 |
| Contract administrator fees | $8,036 |
| Investment advisory & management fees | $9,063 |
| Benefits paid out | $3,706,739 |
| Net assets, start / end of year | $42.7M / $66.3M |
| Active participants, start / end of year | 2,232 / 2,593 |
| Participants with account balances | 1,942 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Aprio LLP |
Largest service providers (Schedule C)
| Fidelity Workplace Services, LLC | $18,545 reported compensation |
| Strategic Advisors, Inc. | $9,063 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250820063155NAL0001500723001, received 2025-08-20, EIN 82-1023772, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.