Evolent Health LLC 401(k) Review & Grade
Evolent Health 401(k) Plan
Arlington, VAFinance & Insurance3,322 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3,172Employer $ per active participant
$7,586Employee $ saved per active participant
0.22%Direct admin cost, % of plan assets
$289.2MNet plan assets, end of year
$62,051Average balance per account
Score breakdown
- Employer generosity15.7 / 5031th percentile for employer $ per participant
- Low cost7.8 / 2531th percentile for low admin cost vs. same-size plans
- Employee saving6.1 / 1541th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score27 / 100 · Grade F
This plan vs. peers
Peers: Finance & Insurance plans with 2,500–9,999 active participants (199 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 31th |
| Lower admin cost | 31th |
| Employee saving | 41th |
| Peers that auto-enroll | 66% |
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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 ($165 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $100,075 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Evolent Health put in about $3,172 per active participant, below the typical peer ($4,489). 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 (0.22% 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 | $10,535,047 |
| Participant (employee) contributions | $25,196,452 |
| Other contributions (incl. rollovers in) | $6,609,991 |
| Administrative expenses paid from the plan | $585,269 |
| Investment advisory & management fees | $150,121 |
| Benefits paid out | $29,190,341 |
| Net assets, start / end of year | $243.3M / $289.2M |
| Active participants, start / end of year | 3,417 / 3,226 |
| Participants with account balances | 4,661 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Aprio LLP |
Largest service providers (Schedule C)
| The Vanguard Group, Inc. | $426,288 reported compensation |
| Kestra Advisory Services, LLC | $120,000 reported compensation |
| Vanguard Advisers Inc. | $30,121 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013102555NAL0001711296001, received 2025-10-13, EIN 45-3084136, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.