1life Healthcare, Inc. 401(k) Review & Grade
1life Healthcare, Inc. 401(k) Plan
San Francisco, CAHealth Care & Social Assistance3,612 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,541Employer $ per active participant
$10,874Employee $ saved per active participant
0.03%Direct admin cost, % of plan assets
$307.9MNet plan assets, end of year
$73,076Average balance per account
Score breakdown
- Employer generosity38.7 / 5077th percentile for employer $ per participant
- Low cost22.4 / 2589th percentile for low admin cost vs. same-size plans
- Employee saving14.5 / 1596th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score76 / 100 · Grade A
This plan vs. peers
Peers: Health Care & Social Assistance plans with 2,500–9,999 active participants (312 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 77th |
| Lower admin cost | 89th |
| Employee saving | 96th |
| Peers that auto-enroll | 38% |
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Red flags from the filing
Corrective distributions: the plan refunded $34,322 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- 1life Healthcare put in about $2,541 per active participant, more than the typical peer ($800). 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.
- 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 | $9,176,722 |
| Participant (employee) contributions | $39,277,373 |
| Other contributions (incl. rollovers in) | $7,743,972 |
| Administrative expenses paid from the plan | $84,332 |
| Contract administrator fees | $300 |
| Benefits paid out | $25,878,989 |
| Net assets, start / end of year | $239.2M / $307.9M |
| Active participants, start / end of year | 4,192 / 3,032 |
| Participants with account balances | 4,214 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Bdo USA, P.C. |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $84,332 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013112531NAL0000534035001, received 2025-10-13, EIN 76-0707204, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.