Welia Health 401(k) Review & Grade
Welia Health 401(k) Retirement Savings Plan
Mora, MNHealth Care & Social Assistance584 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$4,658Employer $ per active participant
$6,383Employee $ saved per active participant
0.30%Direct admin cost, % of plan assets
$26.6MNet plan assets, end of year
$39,517Average balance per account
Score breakdown
- Employer generosity45.1 / 5090th percentile for employer $ per participant
- Low cost10.2 / 2541th percentile for low admin cost vs. same-size plans
- Employee saving13.6 / 1590th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-8 pts2 issues reported on the filing
Total score71 / 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 | 90th |
| Lower admin cost | 41th |
| Employee saving | 90th |
| Peers that auto-enroll | 36% |
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Red flags from the filing
No fidelity bond: the plan reported it was not covered by a fidelity bond, which protects participants against theft.
Corrective distributions: the plan refunded $10,872 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Welia Health put in about $4,658 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.
- 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 | $2,722,509 |
| Participant (employee) contributions | $3,730,907 |
| Other contributions (incl. rollovers in) | $975,295 |
| Administrative expenses paid from the plan | $65,745 |
| Investment advisory & management fees | $30,765 |
| Benefits paid out | $883,362 |
| Net assets, start / end of year | $17.5M / $26.6M |
| Active participants, start / end of year | 576 / 593 |
| Participants with account balances | 674 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Cliftonlarsonallen LLP |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company | $34,980 reported compensation |
| Empower Advisory Group, LLC | $30,765 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250929113038NAL0013799888001, received 2025-09-29, EIN 84-5163224, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.