Akumin Inc. 401(k) Review & Grade
Akumin 401(k) Plan
Plantation, FLHealth Care & Social Assistance3,208 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$741Employer $ per active participant
$4,039Employee $ saved per active participant
0.35%Direct admin cost, % of plan assets
$163.5MNet plan assets, end of year
$37,745Average balance per account
Score breakdown
- Employer generosity24.6 / 5049th percentile for employer $ per participant
- Low cost4.7 / 2519th percentile for low admin cost vs. same-size plans
- Employee saving9.4 / 1563th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score39 / 100 · Grade D
This plan vs. peers
Peers: Health Care & Social Assistance plans with 2,500–9,999 active participants (312 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 49th |
| Lower admin cost | 19th |
| Employee saving | 63th |
| Peers that auto-enroll | 38% |
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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 ($294,750 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
- Akumin put in about $741 per active participant, below the typical peer ($800). 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.
- Direct plan expenses (0.35% of assets) are well above similar-size plans (0.12%). 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 auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- 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 | $2,377,288 |
| Participant (employee) contributions | $12,956,509 |
| Other contributions (incl. rollovers in) | $2,716,191 |
| Administrative expenses paid from the plan | $552,118 |
| Investment advisory & management fees | $244,250 |
| Other admin expenses | $303 |
| Benefits paid out | $28,791,281 |
| Net assets, start / end of year | $153.4M / $163.5M |
| Active participants, start / end of year | 3,106 / 3,310 |
| Participants with account balances | 4,333 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Baker Tilly US, LLP |
Largest service providers (Schedule C)
| Empower Annuity Ins. Co. of America | $224,428 reported compensation |
| Resources Investment Advisors, LLC | $169,369 reported compensation |
| Marcum LLP | $64,887 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014085419NAL0001140835001, received 2025-10-14, EIN 36-4793204, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.