Enova International, Inc. 401(k) Review & Grade
Enova International, Inc. 401(k) Savings Plan
Chicago, ILFinance & Insurance1,638 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,620Employer $ per active participant
$6,901Employee $ saved per active participant
0.23%Direct admin cost, % of plan assets
$143.8MNet plan assets, end of year
$52,737Average balance per account
Score breakdown
- Employer generosity16.1 / 5032th percentile for employer $ per participant
- Low cost12.4 / 2550th percentile for low admin cost vs. same-size plans
- Employee saving7.3 / 1548th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score43 / 100 · Grade D
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 32th |
| Lower admin cost | 50th |
| Employee saving | 48th |
| Peers that auto-enroll | 62% |
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Red flags from the filing
Corrective distributions: the plan refunded $3,758 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Enova International put in about $2,620 per active participant, below the typical peer ($3,606). 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.
- 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 | $4,289,952 |
| Participant (employee) contributions | $11,300,392 |
| Other contributions (incl. rollovers in) | $1,179,216 |
| Administrative expenses paid from the plan | $305,081 |
| Investment advisory & management fees | $34,122 |
| Benefits paid out | $11,095,017 |
| Net assets, start / end of year | $119.3M / $143.8M |
| Active participants, start / end of year | 1,553 / 1,722 |
| Participants with account balances | 2,726 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Miller, Cooper & Co., LTD. |
Largest service providers (Schedule C)
| Transamerica Retirement Solutions | $244,959 reported compensation |
| Fiducient Advisors | $34,122 reported compensation |
| Miller Cooper & Co., LTD | $26,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250923091530NAL0005531473001, received 2025-09-23, EIN 45-3190813, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.