Novavax, Inc. 401(k) Review & Grade
Novavax, Inc. 401(k) Profit Sharing Plan
Gaithersburg, MDHealth Care & Social Assistance902 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$6,084Employer $ per active participant
$14,500Employee $ saved per active participant
0.24%Direct admin cost, % of plan assets
$113.2MNet plan assets, end of year
$85,754Average balance per account
Score breakdown
- Employer generosity46.7 / 5093th percentile for employer $ per participant
- Low cost12.3 / 2549th percentile for low admin cost vs. same-size plans
- Employee saving14.8 / 1599th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score74 / 100 · Grade B
This plan vs. peers
Peers: Health Care & Social Assistance plans with 500–2,499 active participants (1,427 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 93th |
| Lower admin cost | 49th |
| Employee saving | 99th |
| Peers that auto-enroll | 36% |
Get the monthly 401(k) report card
The best and worst plans, new grades as filings post. One email a month, no spam.
Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($2,206,993 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- Novavax put in about $6,084 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.
- 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.
- The plan reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- 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 | $5,488,065 |
| Participant (employee) contributions | $13,079,403 |
| Other contributions (incl. rollovers in) | $3,249,950 |
| Administrative expenses paid from the plan | $248,013 |
| Contract administrator fees | $183,481 |
| Investment advisory & management fees | $64,532 |
| Benefits paid out | $18,671,901 |
| Net assets, start / end of year | $97.0M / $113.2M |
| Active participants, start / end of year | 1,037 / 767 |
| Participants with account balances | 1,320 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Aprio LLP |
Largest service providers (Schedule C)
| John Hancock Retirement Plan Srvcs | $209,450 reported compensation |
| Sageview Advisory Group | $38,563 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251010093408NAL0007445361001, received 2025-10-10, EIN 22-2816046, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.