One of the best ways to save for your retirement is through a 401(k) Plan. Even saving a small amount can help you down the road.


All full-time and part-time associates, interns and temporary associates are eligible to enroll in the Plan. Associates residing in Puerto Rico or any associate performing services in Puerto Rico are not eligible to participate in the Plan.

Your Contributions

Pre-tax and Roth (after-tax contributions) are available. If you are or will be 50 years old or older during the calendar year, you may elect additional “catch-up contributions.”

Employer Matching Contributions

Inovalon provides a generous employer match! Inovalon will match 100% of your first 5% in eligible earnings that you contribute each paycheck. You will be immediately 100% vested in employer matching contributions.

Example of How the Match Works:

401k example

The IRS limits the amount you may contribute each year. For 2024, the maximum you may contribute is $23,000. If you are age 50 or older in 2024, you may contribute an additional $7,500. These limits include both your pre-tax and Roth contributions.

The payroll system will automatically stop your contributions, and the employer match, once your contributions have reached the IRS limit. Your contributions will automatically resume again beginning with the first paycheck in the next calendar year. A few things to note about the annual IRS maximum:

  • The annual IRS maximum applies to your contributions only. It does not include the employer matching contributions.

  • The maximum applies to all employee contributions you have made for the year under all 401(k) Plans. If you are a new hire and contributed to your prior employer’s 401(k) plan during the year, you need to take into account the amount you contributed under your prior employer’s plan when electing your contribution percentage. The payroll system will not take into account the amount you contributed to your prior employer’s 401(k) plan when tracking the annual IRS limit.

  • If you reach the IRS annual limit early in the year, you may miss out on 401(k) match. In order to receive employer match, you must contribute. If you reach the IRS maximum early in the year and your contributions stop, the corresponding employer match will also cease and you will no longer receive any employer match for the year.

  • Contributing Too Much, Too Fast: If you select a contribution rate that is too high or not equally divided at a rate of 5% or more every pay date, you may not receive the full Inovalon match! If you reach the IRS maximum contribution limit before the end of the year, you will be prevented from contributing from the remaining paychecks for the year. If you don’t contribute each pay period, you don’t receive matching contributions for those pay periods leading to your contribution being under matched.
  • Contributing Too Little: If you are not already contributing at least 5% of your eligible earnings to the 401(k) plan, there is a chance that you are not taking full advantage of the company match (100% up to 5% each paycheck). If your goal is to maximize your allocation of the company match for the plan year, you may be better served by selecting a higher contribution rate.
  • Not Enrolling in Catch-Up Contributions if You Are Age 50 or Older: If you will be age 50 or older in 2024, you may contribute up to an additional $7,500 for a total of $30,500 in 2024. You must make a separate election for catch-up contributions. To elect catch-up contributions, log on to the Empower website.
  1. Log in to your account at
  2. Click on Account from the top banner, hover over Inovalon, Inc. 401(k) Retirement Savings Plan and select Contributions.
  3. To add a Bonus election, select More Options at the bottom of the page and then select the Add/Edit button.
  4. If you already have a bonus election, select the Edit button to change your current election.
  5. Once the desired Contribution Rate has been entered, click Continue until you are back on the My Contributions screen.
  6. On the My Contributions screen, select the Confirm & Continue button to finalize your selection.
  7. Be sure to save the Confirmation Number for your records.

The Inovalon 401(k) Plan has a contribution accelerator feature that is effective January 1 of each year.

The Contribution Accelerator feature within the 401(k) Plan allows you to elect a maximum deferral percentage.

This means, if you are currently enrolled in the Contribution Accelerator, your deferral rate will increase by 1% with your second paycheck in January every year, until you reach your elected maximum deferral percentage.

For example, if you’re currently contributing 5% in pre-tax contributions to the Inovalon 401(k) Plan, on the January 19, 2024 paycheck, your pre-tax contribution will automatically increase to 6% unless you take action. You may opt-out of this feature at any time.

Action Required

If you previously opted out of this feature, you do not need to opt out again. For instructions on how to stop or start the accelerator feature, click herePlease note, you will need to take action by COB Tuesday, January 9, in order to stop or start the accelerator for the January 19 paycheck.

Changing 401(k) Contributions

If you would like to enroll in or change your 401(k) contributions, visit the Empower website at or call 855-756-4738.

You may roll over your pre-tax assets from another qualified retirement plan, such as a former employer’s 401(k) Plan, at any time. The 401(k) Plan rollover form and instructions can be found in the 401(k) Plan Enrollment Guide or by contacting Empower at 855-756-4738.

The Plan offers a variety of investments to include target date funds. For a list of investments, log onto or refer to the 401(k) Plan Enrollment Guide.

For more detailed information, see the Summary Plan Description.

Enrolling and Making Changes to Your 401(k) Account

You must take action and enroll for your contributions, and the employer matching contributions, to begin. To enroll, change or stop your contributions, contact Empower at or at 855-756-4738. If you are a new hire, you may enroll generally after you receive your first paycheck. When you enroll, you’ll need to decide if you want to make pre-tax contributions and/or Roth (after-tax) contributions. A separate election is required to enroll in catch-up contributions and to have 401(k) taken from any bonus payments you may receive. You may enroll, change or stop your contributions at any time.

If you enroll or make a change to your current contribution %, your enrollment and/or change will be effective generally within one to two pay checks.

Ready to enroll or make benefits changes?

Contact the Inovalon Benefits Center for questions and enrollment help (M-F 8:00 a.m. – 5:30 p.m. ET)