Accanto Health, LLC 401(k) Review & Grade
Accanto Health, LLC 401(k) Plan
Saint Paul, MNHealth Care & Social Assistance1,365 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,387Employer $ per active participant
$3,364Employee $ saved per active participant
0.45%Direct admin cost, % of plan assets
$42.5MNet plan assets, end of year
$34,860Average balance per account
Score breakdown
- Employer generosity29.6 / 5059th percentile for employer $ per participant
- Low cost6.7 / 2527th percentile for low admin cost vs. same-size plans
- Employee saving9.1 / 1560th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score35 / 100 · Grade D
This plan vs. peers
Peers: Health Care & Social Assistance plans with 500–2,499 active participants (1,427 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 59th |
| Lower admin cost | 27th |
| Employee saving | 60th |
| Peers that auto-enroll | 36% |
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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 ($9,816 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $14,536 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Accanto Health put in about $1,387 per active participant, more than the typical peer ($976). 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 (0.45% of assets) are well above similar-size plans (0.23%). 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 | $1,893,506 |
| Participant (employee) contributions | $4,592,204 |
| Other contributions (incl. rollovers in) | $916,300 |
| Administrative expenses paid from the plan | $173,518 |
| Contract administrator fees | $173,518 |
| Benefits paid out | $5,070,835 |
| Net assets, start / end of year | $35.3M / $42.5M |
| Active participants, start / end of year | 1,397 / 1,333 |
| Participants with account balances | 1,218 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Cliftonlarsonallen LLP |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $173,517 reported compensation |
| Ubs Financial Services Inc | $32,000 reported compensation |
| Morningstar Investment Management L | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015105245NAL0008829794001, received 2025-10-15, EIN 45-4471717, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.