Ovation Holdings 401(k) Review & Grade
Ovation Holdings 401(k) Retirement Plan
Riverdale, IAOther Services770 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$4,165Employer $ per active participant
$4,887Employee $ saved per active participant
0.75%Direct admin cost, % of plan assets
$45.3MNet plan assets, end of year
$53,448Average balance per account
Score breakdown
- Employer generosity43.5 / 5087th percentile for employer $ per participant
- Low cost2.9 / 2511th percentile for low admin cost vs. same-size plans
- Employee saving11.0 / 1573th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score50 / 100 · Grade C
This plan vs. peers
Peers: Other Services plans with 500–2,499 active participants (333 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 87th |
| Lower admin cost | 11th |
| Employee saving | 73th |
| Peers that auto-enroll | 40% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($30,239 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
- Ovation Holdings put in about $4,165 per active participant, more than the typical peer ($1,257). 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 (0.75% 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.
- 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 | $3,207,339 |
| Participant (employee) contributions | $3,763,357 |
| Other contributions (incl. rollovers in) | $2,118,809 |
| Administrative expenses paid from the plan | $252,182 |
| Contract administrator fees | $252,182 |
| Benefits paid out | $5,484,570 |
| Net assets, start / end of year | $22.3M / $45.3M |
| Active participants, start / end of year | 751 / 789 |
| Participants with account balances | 847 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Rubinbrown LLP |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $252,182 reported compensation |
| Principal Securities Inc | $106,308 reported compensation |
| Wilshire Advisors LLC | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250917181023NAL0000798481001, received 2025-09-17, EIN 82-5057672, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.