Virginia Health Services, Inc. 401(k) Review & Grade
Virginia Health Services, Inc. Retirement Plan
Newport News, VAHealth Care & Social Assistance744 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$666Employer $ per active participant
$1,609Employee $ saved per active participant
0.07%Direct admin cost, % of plan assets
$25.6MNet plan assets, end of year
$56,434Average balance per account
Score breakdown
- Employer generosity20.5 / 5041th percentile for employer $ per participant
- Low cost20.3 / 2581th percentile for low admin cost vs. same-size plans
- Employee saving5.3 / 1535th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score46 / 100 · Grade C
This plan vs. peers
Peers: Health Care & Social Assistance plans with 500–2,499 active participants (1,427 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 41th |
| Lower admin cost | 81th |
| Employee saving | 35th |
| Peers that auto-enroll | 36% |
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Red flags from the filing
Corrective distributions: the plan refunded $38,579 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Virginia Health Services put in about $666 per active participant, below the typical peer ($976). 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.
- 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 | $494,944 |
| Participant (employee) contributions | $1,196,100 |
| Other contributions (incl. rollovers in) | $131,590 |
| Administrative expenses paid from the plan | $16,965 |
| Benefits paid out | $1,114,395 |
| Net assets, start / end of year | $21.8M / $25.6M |
| Active participants, start / end of year | 731 / 756 |
| Participants with account balances | 454 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Walker Healthcare Services Group |
Largest service providers (Schedule C)
| Nwps | $16,965 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250624091345NAL0016391714001, received 2025-06-24, EIN 54-1141438, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.