Aveanna Healthcare 401(k) Review & Grade
Aveanna Healthcare 401(k) Plan
Atlanta, GAHealth Care & Social Assistance27,362 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$242Employer $ per active participant
$969Employee $ saved per active participant
0.37%Direct admin cost, % of plan assets
$234.3MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity11.4 / 5023th percentile for employer $ per participant
- Low cost1.7 / 257th percentile for low admin cost vs. same-size plans
- Employee saving3.3 / 1522th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score16 / 100 · Grade F
This plan vs. peers
Peers: Health Care & Social Assistance plans with 10,000+ active participants (115 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 23th |
| Lower admin cost | 7th |
| Employee saving | 22th |
| Peers that auto-enroll | 52% |
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Red flags from the filing
Corrective distributions: the plan refunded $272,455 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Aveanna Healthcare put in about $242 per active participant, below the typical peer ($2,086). 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 (0.37% of assets) are well above similar-size plans (0.09%). 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.
- 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 | $6,608,695 |
| Participant (employee) contributions | $26,513,427 |
| Other contributions (incl. rollovers in) | $4,211,840 |
| Administrative expenses paid from the plan | $813,413 |
| Contract administrator fees | $737,913 |
| Investment advisory & management fees | $70,000 |
| Benefits paid out | $32,736,862 |
| Net assets, start / end of year | $204.3M / $234.3M |
| Active participants, start / end of year | 28,064 / 26,661 |
| Participants with account balances | 9,256 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Warren Averett |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $737,913 reported compensation |
| Creative Planning | $65,000 reported compensation |
| Cosurge Cpas | $10,500 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251009162958NAL0007307377001, received 2025-10-09, EIN 37-1864863, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.