Covenant Health401(k)
COVENANT HEALTH 401(K) PLAN · KNOXVILLE, TN · plan year 2024
Peer grade: C+ · admin costs + employer contributions vs same-size plans · how grading works
Covenant Health reported $521,227 in plan administrative expenses for 2024: 0.06% of average plan assets, below the peer median. Employer contributions averaged $2,012 per active participant. This ratio covers administrative expenses reported on the plan's Schedule H only; fund-level expense ratios are not included in public structured data — see methodology.
Across the 2 years on file its reported administrative ratio fell from 0.08% to 0.06%. The plan sits in the $250M–$1B size bracket, benchmarked here against 2,883 comparable plans and shown alongside other health care & social assistance employers. By assets it is the 30th-largest of 1,496 plans among Tennessee employers on file, and the 208th of 11,911 in health care & social assistance. In 2024, employees put in $1.85 for every $1.00 the employer contributed; active participation has grown from 8,748 to 9,723 since 2022.
Covenant Health's 2024 employer contribution ran below the $4,294 median for plans its size, in the bottom quarter of its peers. 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.
Annual cost at the plan's reported 2024 administrative ratio, against the median plan its size; fund expense ratios are extra. Compare any plan.
Compensation shown is direct payments from plan assets reported on Schedule C. Providers paid through fund revenue-sharing appear as indirect.
Why are you looking at this plan?
Source: U.S. Department of Labor, Form 5500 series, EIN 621646734 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.