Iovance Biotherapeutics, Inc. 401(k) Review & Grade
Iovance Biotherapeutics, Inc. 401(k) Plan
San Carlos, CAProfessional, Scientific & Technical Services693 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$6,679Employer $ per active participant
$13,945Employee $ saved per active participant
0.23%Direct admin cost, % of plan assets
$61.5MNet plan assets, end of year
$66,458Average balance per account
Score breakdown
- Employer generosity41.3 / 5083th percentile for employer $ per participant
- Low cost12.4 / 2550th percentile for low admin cost vs. same-size plans
- Employee saving12.6 / 1584th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score73 / 100 · Grade B
This plan vs. peers
Peers: Professional, Scientific & Technical Services plans with 500–2,499 active participants (1,469 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 83th |
| Lower admin cost | 50th |
| Employee saving | 84th |
| Peers that auto-enroll | 48% |
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Red flags from the filing
Corrective distributions: the plan refunded $24,962 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Iovance Biotherapeutics put in about $6,679 per active participant, more than the typical peer ($3,082). 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 | $4,628,719 |
| Participant (employee) contributions | $9,663,919 |
| Other contributions (incl. rollovers in) | $3,244,288 |
| Administrative expenses paid from the plan | $120,714 |
| Investment advisory & management fees | $46,293 |
| Other admin expenses | $2,000 |
| Benefits paid out | $5,546,556 |
| Net assets, start / end of year | $42.6M / $61.5M |
| Active participants, start / end of year | 554 / 832 |
| Participants with account balances | 925 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Sensiba LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $72,481 reported compensation |
| Kestra Investment Services LLC | $46,293 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015081919NAL0005663104001, received 2025-10-15, EIN 75-3254381, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.