How much does Clover Nola, Inc. contribute to its Defined-contribution plan?

In 2024, employer contributions to the Clover Nola, Inc. plan averaged $1,407 per active participant, above the $1,313 median for plans of similar size. Public filings report contribution dollars, not the match formula; the formula is in the plan's summary plan description.

What is the average account balance in the Clover Nola, Inc. 401(k)?

The average participant account balance was $13,684 for plan year 2024, based on 300 accounts.

Clover Nola, Inc.DC plan

Name: Clover Nola, Inc. 401(k) plan: Form 5500 data
Creator: U.S. Department of Labor

CLOVER NOLA RETIREMENT PLAN · NEW ORLEANS, LA · plan year 2024

Employer contribution per participant · 2024

$1,407

Clover Nola, Inc.'s 2024 Form 5500 did not separately report plan administrative expenses, which is common where recordkeeping is paid through investment revenue-sharing or a master trust. The plan held $4,105,082 across 300 participant accounts, with employer contributions averaging $1,407 per active participant. See methodology for what Form 5500 does and doesn't capture.

The plan sits in the $1M–$10M size bracket, benchmarked here against 18,840 comparable plans and shown alongside other health care & social assistance employers. By assets it is among the smaller plans on file in Louisiana (644th of 884), and 8,481st of 11,911 in health care & social assistance. In 2024, the employer put in $2.03 for every $1.00 employees contributed themselves.

Plan summary
Net assets, end of year$4,105,082
Participants with balances300
Active participants159
Employer contributions$223,772
Employee contributions$110,412
Employer contribution per active participant$1,407
Average account balance$13,684
Benefits paid to participants$307,594
Plan auditUnmodified (clean) audit opinion
AuditorBOURGEOIS BENNETT, LLC

Plan history3

Yearassets · accounts · employer contribution

2024$4.1M · 300 accts · $224K emplr

2023$3.6M · 275 accts · $199K emplr

2022$2.9M · 283 accts · $194K emplr

Employer contributions to the Clover Nola, Inc. plan · 2024

Employer contribution per active participant$1,407

Median for plans this size$1,313

2024$1,407 per active participant

2023$678 per active participant

2022$1,244 per active participant

Clover Nola, Inc.'s 2024 employer contribution ran above the $1,313 median for plans its size. Filings report dollars actually contributed, not the match formula; the formula itself (for example, 50% of the first 6% of pay) lives in the plan's summary plan description from HR.

Administrative cost history3

2024Not separately reported

2023Not separately reported

2022Not separately reported

Same employer

Clover Nola, Inc.'s health & benefits plan: carriers, premiums & broker pay

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Source: U.S. Department of Labor, Form 5500 series, EIN 720408940 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.