Heartland Veterinary Partners 401(k) Review & Grade
Heartland Veterinary Partners 401(k) Plan
Chicago, ILProfessional, Scientific & Technical Services3,224 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$287Employer $ per active participant
$2,611Employee $ saved per active participant
0.31%Direct admin cost, % of plan assets
$33.3MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity7.2 / 5014th percentile for employer $ per participant
- Low cost5.5 / 2522th percentile for low admin cost vs. same-size plans
- Employee saving2.1 / 1514th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score18 / 100 · Grade F
This plan vs. peers
Peers: Professional, Scientific & Technical Services plans with 2,500–9,999 active participants (231 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 14th |
| Lower admin cost | 22th |
| Employee saving | 14th |
| Peers that auto-enroll | 47% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Heartland Veterinary Partners put in about $287 per active participant, below the typical peer ($2,951). 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 (0.31% 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.
- 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 | $924,589 |
| Participant (employee) contributions | $8,419,608 |
| Other contributions (incl. rollovers in) | $2,196,590 |
| Administrative expenses paid from the plan | $84,332 |
| Contract administrator fees | $300 |
| Investment advisory & management fees | $3,195 |
| Benefits paid out | $2,799,387 |
| Net assets, start / end of year | $21.4M / $33.3M |
| Active participants, start / end of year | 3,046 / 3,403 |
| Participants with account balances | 1,363 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Fgmk, LLC |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $81,137 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250730135548NAL0001977635001, received 2025-07-30, EIN 81-1167081, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.