National Mentor Holdings, LLC 401(k) Review & Grade
Sevita 401(k) Plan
Edina, MNHealth Care & Social Assistance32,906 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$237Employer $ per active participant
$1,060Employee $ saved per active participant
0.36%Direct admin cost, % of plan assets
$347.2MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity11.0 / 5022th percentile for employer $ per participant
- Low cost1.8 / 257th percentile for low admin cost vs. same-size plans
- Employee saving3.4 / 1523th 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 | 22th |
| Lower admin cost | 7th |
| Employee saving | 23th |
| Peers that auto-enroll | 52% |
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Red flags from the filing
Corrective distributions: the plan refunded $496,394 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- National Mentor Holdings put in about $237 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 (0.36% 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 | $7,811,409 |
| Participant (employee) contributions | $34,868,293 |
| Other contributions (incl. rollovers in) | $3,497,533 |
| Administrative expenses paid from the plan | $1,196,726 |
| Investment advisory & management fees | $159,464 |
| Other admin expenses | $59,662 |
| Benefits paid out | $52,523,946 |
| Net assets, start / end of year | $315.6M / $347.2M |
| Active participants, start / end of year | 26,985 / 38,828 |
| Participants with account balances | 14,060 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Forvis Mazars, LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $827,895 reported compensation |
| Strategic Advisors, Inc. | $159,464 reported compensation |
| Capfinancial Partners LLC | $59,662 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014070147NAL0002237617001, received 2025-10-14, EIN 04-3250732, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.