Veterinary Practice Partners, LLC 401(k) Review & Grade
Veterinary Practice Partners, LLC 401(k) Plan
King of Prussia, PAHealth Care & Social Assistance3,148 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,350Employer $ per active participant
$3,366Employee $ saved per active participant
0.74%Direct admin cost, % of plan assets
$69.6MNet plan assets, end of year
$20,801Average balance per account
Score breakdown
- Employer generosity29.7 / 5059th percentile for employer $ per participant
- Low cost1.9 / 257th percentile for low admin cost vs. same-size plans
- Employee saving8.4 / 1556th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score37 / 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 | 59th |
| Lower admin cost | 7th |
| Employee saving | 56th |
| 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 ($893,162 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $87,210 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Veterinary Practice Partners put in about $1,350 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.
- Direct plan expenses (0.74% 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 | $4,250,770 |
| Participant (employee) contributions | $10,597,545 |
| Other contributions (incl. rollovers in) | $4,720,717 |
| Administrative expenses paid from the plan | $433,694 |
| Contract administrator fees | $348,039 |
| Investment advisory & management fees | $51,393 |
| Other admin expenses | $34,262 |
| Benefits paid out | $4,287,040 |
| Net assets, start / end of year | $48.3M / $69.6M |
| Active participants, start / end of year | 3,073 / 3,224 |
| Participants with account balances | 3,348 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Cliftonlarsonallen LLP |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $328,929 reported compensation |
| N.A. Falcone & Associates, Inc. | $94,451 reported compensation |
| Merrill Lynch Pierce Fenner & Smith | $85,782 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015083933NAL0008364802001, received 2025-10-15, EIN 80-0673278, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.