Retirement plan

DEVOTED HEALTH 401(K) RETIREMENT PLAN

Name: DEVOTED HEALTH, INC. - DEVOTED HEALTH 401(K) RETIREMENT PLAN (2024) Form 5500
Creator: DEVOTED HEALTH, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, DEVOTED HEALTH 401(K) RETIREMENT PLAN, DEVOTED HEALTH, INC.

DEVOTED HEALTH, INC.EIN 82-1023772Plan #001PY 2024

221 CRESCENT STREET SUITE 202 - WALTHAM, MA 02453617-697-1590devoted.comLinkedIn1001-5000 employeeshospital & health care

Prospect flagsLow participationLow assets / participantLow employer contributionCorrective distributions

How to read this page

Total assets (EOY)

$66.3M

+55.2% from 2023

Total participants

2,733

+16.5% from 2023

Average account balance

$34,155

+11.3% from 2023

Annual return

27.56%

-11.75 pp from 2023

Benchmarks

See 609 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants1,000-4,999

Cohort609 peers

Snapshot2024

Free accounts unlock saves, downloads, and 3-year history.

Analytics

Total assets (EOY)

Plan-year ending balance

$66.33M

Not enough data

1 years with asset history on file

Average account balance

Total assets / participants with a balance (line 6g)

$34K

Not enough data

1 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

1,942

Not enough data

1 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

69.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$15.53M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

Not enough data

1 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+27.56%

Not enough data

1 years with return on file

Admin fee / account holder

Total admin expenses / participants with a balance (line 6g)

$14

Not enough data

1 years with admin cost on file

Asset composition

Cash / stocks / bonds / mutual funds / real estate / loans over time

Not enough data

1 years with F_SCH_H allocation on file

Free accounts unlock saves, downloads, and 3-year history.

Service providers

Top 2 by compensation

Provider	Service type	Compensation
FIDELITY INVESTMENTS INSTITUTIONAL2 years Filed as: FIDELITY WORKPLACE SERVICES, LLC Service code 14 · EIN 04-3532603	Plan Administrator	$18,545
STRATEGIC ADVISORS, INC.1 year Service code 27 · EIN 04-2654524	Advisory (Plan)	$9,063

Plan features & details

Pension benefit codes2G2J2K2S3H2E2F2T3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
2F
ERISA section 404(c) plan
This plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
2G
Total participant-directed account plan
Participants have the opportunity to direct the investment of all of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2J
Code section 401(k) feature
Cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan under which employees may elect to defer part of their compensation or receive these amounts in cash.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
2T
Default investment account
Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
3D
Pre-approved pension plan
A master prototype or volume submitter plan that is the subject of a favorable opinion or advisory letter from the IRS.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

4 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$28K

$11 / participant

Recordkeeping$11K38.1%
Investment mgmt$9K32.8%
Contract admin$8K29.1%

% of EOY assets

0.042%

all-in expense ratio

Categories reported

3 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: APRIO LLP
Auditor EIN: 571157523
Audit fees: $0
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$34,155

$122,596-72.1%

$184,243-81.5%

$199,921-82.9%

Participation rate

69.5%

86.9%-17.4pp

86.8%-17.3pp

72.0%-2.5pp

Annual return

27.56%

144.14%-116.6pp

28.82%-1.3pp

34.28%-6.7pp

Employer contribution / active EE

$347

$4,570-92.4%

$6,427-94.6%

$3,035-88.6%

Participant deferral / active EE

$5,642

$7,972-29.2%

$9,132-38.2%

$5,089+10.9%

Admin fee / account holder

$14

$120-88.2%

$13,914-99.9%

$269-94.7%

Provider

Service type

Compensation

FIDELITY INVESTMENTS INSTITUTIONAL2 years

Filed as: FIDELITY WORKPLACE SERVICES, LLC

Service code 14 · EIN 04-3532603

Plan Administrator

$18,545

STRATEGIC ADVISORS, INC.1 year

Service code 27 · EIN 04-2654524

Advisory (Plan)

$9,063

DEVOTED HEALTH 401(K) RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

DEVOTED HEALTH 401(K) RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion