Corvel Healthcare Corporation 401(k) Review & Grade
Corvel Incentive Savings Plan
Portland, ORFinance & Insurance4,711 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$320Employer $ per active participant
$5,436Employee $ saved per active participant
0.03%Direct admin cost, % of plan assets
$276.0MNet plan assets, end of year
$48,877Average balance per account
Score breakdown
- Employer generosity1.3 / 503th percentile for employer $ per participant
- Low cost22.0 / 2588th percentile for low admin cost vs. same-size plans
- Employee saving2.2 / 1515th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-20 pts2 issues reported on the filing
Total score9 / 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 | 3th |
| Lower admin cost | 88th |
| Employee saving | 15th |
| 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 ($5,788,076 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Benefits not paid when due: the plan reported failing to pay some benefits on time.
What to do if you're in this plan
- Corvel Healthcare put in about $320 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.
- Fund expense ratios aren't in the filing. Look them up in your 404(a)(5) fee disclosure and favor low-cost index or target-date funds.
- 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 | $1,507,199 |
| Participant (employee) contributions | $25,608,640 |
| Other contributions (incl. rollovers in) | $6,491,050 |
| Administrative expenses paid from the plan | $84,832 |
| Contract administrator fees | $300 |
| Investment advisory & management fees | $34,204 |
| Benefits paid out | $25,801,389 |
| Net assets, start / end of year | $227.7M / $276.0M |
| Active participants, start / end of year | 4,132 / 5,290 |
| Participants with account balances | 5,646 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Haskell & White LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $50,628 reported compensation |
| Strategic Advisors, Inc. | $34,204 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250915161712NAL0002101696001, received 2025-09-15, EIN 95-3382819, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.