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Grade My 401(k)
Built by Basic Capital
2 critical issues

Kla Corporation

04-2564110· Milpitas, CA· Fidelity· 2024 filing· vs 32 plans your size
B
0/100
Overall grade

Solid plan with a few things to improve.

B
Fees
B
Financial Wellness
B
Plan design
F
Compliance
Fees

Your plan pays around 3 bps of assets per year. Similar plans pay around 10 bps. Your plan is cheaper than about 88% of similar plans.

B
cheaper12th percentilepricier
Financial Wellness

Strong savings. Employees put away $11,559/employee a year. That's more than 89% of similar plans.

B
lower89th percentilehigher
Plan design

Covers the basics. A few high-impact features are missing.

B
Employer match
The plan matches employee contributions, the single strongest driver of participation and savings.
Profit sharing
The employer also makes profit-sharing contributions on top of the match.
Automatic enrollment
New hires are enrolled by default. Plans with auto-enroll see much higher participation.
Not safe harbor
The plan has to pass annual IRS nondiscrimination testing, which can cap what owners and higher earners are allowed to contribute.
Default investment (QDIA)
Employees who never pick investments land in a sensible default, usually a target-date fund, instead of cash.
Brokerage window
Employees can invest beyond the core fund menu through a self-directed brokerage account.
Compliance & health

2 critical issues on the latest filing. These need attention.

F
Failed IRS fairness test
The plan failed its annual IRS fairness test and had to refund contributions to higher-paid employees. A safe harbor design eliminates this problem entirely.
Late employee deposits
Employee 401(k) deposits didn't reach the plan on time. The DOL treats this as a prohibited transaction, and it's one of the most common audit triggers. It needs a formal correction, not just a late deposit.
Fidelity bond below 10% of BOY assets, ERISA 412 violation
The reported ERISA fidelity bond is below the 10%-of-assets guideline based on beginning-of-year assets. Fast-growing plans can look under-bonded on paper; confirm against the plan's current bond coverage.
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Key insights

  • Strongest area: fees. Your plan pays around 3 bps of assets per year. Similar plans pay around 10 bps. Your plan is cheaper than about 88% of similar plans.
  • Best place to improve: compliance & health. 2 critical issues on the latest filing. These need attention.
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