Sunnova Energy Corporation 401(k) Review & Grade
Sunnova Energy Corporation 401(k) Plan & Trust
Houston, TXConstruction1,803 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$3,211Employer $ per active participant
$5,487Employee $ saved per active participant
0.66%Direct admin cost, % of plan assets
$53.7MNet plan assets, end of year
$30,789Average balance per account
Score breakdown
- Employer generosity39.2 / 5078th percentile for employer $ per participant
- Low cost3.6 / 2515th percentile for low admin cost vs. same-size plans
- Employee saving10.7 / 1571th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score47 / 100 · Grade C
This plan vs. peers
Peers: Construction plans with 500–2,499 active participants (498 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 78th |
| Lower admin cost | 15th |
| Employee saving | 71th |
| Peers that auto-enroll | 44% |
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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 ($1,116 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
- Sunnova Energy put in about $3,211 per active participant, more than the typical peer ($1,672). 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.
- Direct plan expenses (0.66% of assets) are well above similar-size plans (0.23%). 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.
- 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 | $5,789,050 |
| Participant (employee) contributions | $9,892,592 |
| Other contributions (incl. rollovers in) | $3,487,452 |
| Administrative expenses paid from the plan | $298,818 |
| Investment advisory & management fees | $163,584 |
| Benefits paid out | $8,221,904 |
| Net assets, start / end of year | $36.7M / $53.7M |
| Active participants, start / end of year | 1,941 / 1,665 |
| Participants with account balances | 1,745 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Abip,pc |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company | $135,234 reported compensation |
| Guided Capital Wealth Management LL | $123,985 reported compensation |
| Empower Advisory Group, LLC | $39,599 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250904125915NAL0027467808001, received 2025-09-04, EIN 46-1216532, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.