Inovalon, Inc. 401(k) Review & Grade
Inovalon, Inc. 401(k) Retirement Savings Plan
Bowie, MDProfessional, Scientific & Technical Services1,797 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$5,162Employer $ per active participant
$9,827Employee $ saved per active participant
0.05%Direct admin cost, % of plan assets
$232.7MNet plan assets, end of year
$95,982Average balance per account
Score breakdown
- Employer generosity37.1 / 5074th percentile for employer $ per participant
- Low cost21.8 / 2587th percentile for low admin cost vs. same-size plans
- Employee saving8.6 / 1557th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score68 / 100 · Grade B
This plan vs. peers
Peers: Professional, Scientific & Technical Services plans with 500–2,499 active participants (1,469 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 74th |
| Lower admin cost | 87th |
| Employee saving | 57th |
| Peers that auto-enroll | 48% |
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Red flags from the filing
Corrective distributions: the plan refunded $14,107 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Inovalon put in about $5,162 per active participant, more than the typical peer ($3,082). 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.
- 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 | $9,276,909 |
| Participant (employee) contributions | $17,659,696 |
| Other contributions (incl. rollovers in) | $5,232,919 |
| Administrative expenses paid from the plan | $109,545 |
| Benefits paid out | $29,300,895 |
| Net assets, start / end of year | $199.6M / $232.7M |
| Active participants, start / end of year | 1,770 / 1,824 |
| Participants with account balances | 2,424 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Sc&h Attest Services, P.C. |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company | $138,217 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250724091349NAL0010928066001, received 2025-07-24, EIN 71-1017974, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.