Privia Health LLC 401(k) Review & Grade
Privia Retirement Plan
Arlington, VAProfessional, Scientific & Technical Services5,027 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$5,033Employer $ per active participant
$5,461Employee $ saved per active participant
0.27%Direct admin cost, % of plan assets
$462.5MNet plan assets, end of year
$69,238Average balance per account
Score breakdown
- Employer generosity39.1 / 5078th percentile for employer $ per participant
- Low cost6.4 / 2526th percentile for low admin cost vs. same-size plans
- Employee saving4.4 / 1529th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score43 / 100 · Grade D
This plan vs. peers
Peers: Professional, Scientific & Technical Services plans with 2,500–9,999 active participants (231 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 78th |
| Lower admin cost | 26th |
| Employee saving | 29th |
| Peers that auto-enroll | 47% |
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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 ($1,745,406 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
- Privia Health put in about $5,033 per active participant, more than the typical peer ($2,951). 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.
- Direct plan expenses (0.27% 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 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 | $25,298,928 |
| Participant (employee) contributions | $27,450,534 |
| Other contributions (incl. rollovers in) | $3,651,649 |
| Administrative expenses paid from the plan | $1,161,625 |
| Contract administrator fees | $1,161,625 |
| Benefits paid out | $34,462,683 |
| Net assets, start / end of year | $392.0M / $462.5M |
| Active participants, start / end of year | 5,196 / 4,858 |
| Participants with account balances | 6,680 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Sonzogni, Bottitto & Cooper, LLC |
Largest service providers (Schedule C)
| Merrill Lynch Pierce Fenner & Smith | $578,144 reported compensation |
| Prime Pensions, Inc. | $546,780 reported compensation |
| Empower Annuity Insurance Co. | $419,850 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014110529NAL0001260179001, received 2025-10-14, EIN 26-1385077, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.