Inova Health System Foundation 401(k) Review & Grade
Inova Health System Retirement Savings Plan
Fairfax, VAHealth Care & Social Assistance22,284 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$4,467Employer $ per active participant
$9,365Employee $ saved per active participant
0.04%Direct admin cost, % of plan assets
$3.5BNet plan assets, end of year
$118,839Average balance per account
Score breakdown
- Employer generosity46.1 / 5092th percentile for employer $ per participant
- Low cost20.1 / 2580th percentile for low admin cost vs. same-size plans
- Employee saving14.7 / 1598th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score88 / 100 · Grade A
This plan vs. peers
Peers: Health Care & Social Assistance plans with 10,000+ active participants (115 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 92th |
| Lower admin cost | 80th |
| Employee saving | 98th |
| Peers that auto-enroll | 52% |
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Red flags from the filing
Corrective distributions: the plan refunded $114,206 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Inova Health System Foundation put in about $4,467 per active participant, more than the typical peer ($2,086). 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.
- 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 auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- 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 | $99,542,334 |
| Participant (employee) contributions | $208,693,744 |
| Other contributions (incl. rollovers in) | $29,416,790 |
| Administrative expenses paid from the plan | $1,133,683 |
| Investment advisory & management fees | $1,360,524 |
| Benefits paid out | $241,803,235 |
| Net assets, start / end of year | $2.9B / $3.5B |
| Active participants, start / end of year | 21,716 / 22,853 |
| Participants with account balances | 29,419 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Ernst and Young, LLP |
Largest service providers (Schedule C)
| Strategic Advisors, Inc. | $1,360,525 reported compensation |
| Fid Inv Inst Ops Co | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250924113851NAL0002990851001, received 2025-09-24, EIN 54-1071867, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.