Innovance, Inc.401(k) + ESOP (KSOP)
INNOVANCE, INC. EMPLOYEE STOCK OWNERSHIP PLAN AND TRUST · ALBERT LEA, MN · plan year 2024
Peer grade: B · admin costs + employer contributions vs same-size plans · how grading works
Innovance, Inc. reported $5,965 in plan administrative expenses for 2024: 0.01% of average plan assets, lower than ~75% of peers. Employer contributions averaged $1,113 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 rose from 0.00% to 0.01%. The plan sits in the $50M–$250M size bracket, benchmarked here against 10,352 comparable plans and shown alongside other manufacturing employers. By assets it is the 453rd-largest of 1,918 plans among Minnesota employers on file, and the 2,947th of 13,661 in manufacturing. active participation has grown from 389 to 433 since 2022.
Innovance, Inc.'s 2024 employer contribution ran below the $3,635 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.
Why are you looking at this plan?
Source: U.S. Department of Labor, Form 5500 series, EIN 410980946 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.