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Grade My 401(k)
Built by Basic Capital
1 critical issue

Ss&c Technologies, Inc

06-1169696· Windsor, CT· Fidelity· 2024 filing· vs 136 plans your size in your industry
C
0/100
Overall grade

Middle of the pack, with clear ways to do better.

B
Fees
C
Financial Wellness
D
Plan design
D
Compliance
Fees

Your plan pays around 3 bps of assets per year. Similar plans pay around 5 bps. Your plan is cheaper than about 79% of similar plans.

B
cheaper21th percentilepricier
Financial Wellness

Middle-of-the-pack savings. Employees put away $10,919/employee a year. That's about average for plans this size.

C
lower68th percentilehigher
Plan design

Good base, but no automatic enrollment. That's the top thing to add.

D
Employer match
The plan matches employee contributions, the single strongest driver of participation and savings.
No automatic enrollment
Employees have to opt in themselves. Auto-enrollment is the easiest way to lift participation, and most newly started plans are now required to include it.
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

1 critical issue on the latest filing. These need attention.

D
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.
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 5 bps. Your plan is cheaper than about 79% of similar plans.
  • Best place to improve: plan design. Good base, but no automatic enrollment. That's the top thing to add.
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