Novocure Inc. 401(k) Review & Grade
Novocure Inc. 401(k) Retirement Plan
Portsmouth, NHHealth Care & Social Assistance658 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3,203Employer $ per active participant
$10,097Employee $ saved per active participant
0.12%Direct admin cost, % of plan assets
$59.1MNet plan assets, end of year
$55,953Average balance per account
Score breakdown
- Employer generosity42.0 / 5084th percentile for employer $ per participant
- Low cost17.6 / 2570th percentile for low admin cost vs. same-size plans
- Employee saving14.6 / 1597th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score74 / 100 · Grade B
This plan vs. peers
Peers: Health Care & Social Assistance plans with 500–2,499 active participants (1,427 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 84th |
| Lower admin cost | 70th |
| Employee saving | 97th |
| Peers that auto-enroll | 36% |
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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 ($305,936 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- Novocure put in about $3,203 per active participant, more than the typical peer ($976). 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.
- 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 | $2,109,368 |
| Participant (employee) contributions | $6,648,975 |
| Other contributions (incl. rollovers in) | $1,307,714 |
| Administrative expenses paid from the plan | $65,204 |
| Contract administrator fees | $10,800 |
| Investment advisory & management fees | $34,434 |
| Other admin expenses | $19,970 |
| Benefits paid out | $11,346,090 |
| Net assets, start / end of year | $53.2M / $59.1M |
| Active participants, start / end of year | 653 / 664 |
| Participants with account balances | 1,056 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Gray, Gray, & Gray LLP |
Largest service providers (Schedule C)
| Compass Retirement Consulting GR | $13,526 reported compensation |
| Voya Retirement Advisors, LLC | $7,816 reported compensation |
| Gray, Gray, and Gray LLP | $7,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015085426NAL0002129491001, received 2025-10-15, EIN 20-5063536, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.