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Grade My 401(k)
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1 critical issue

Ameriprise Financial, Inc.

13-3180631· Minneapolis, MN· Alight Solutions· 2025 filing· vs 26 plans your size
B
0/100
Overall grade

Solid plan with a few things to improve.

B
Fees
A
Financial Wellness
D
Plan design
C
Compliance
Fees

Your plan pays around 4 bps of assets per year. Similar plans pay around 10 bps. Your plan is cheaper than about 80% of similar plans.

B
cheaper20th percentilepricier
Financial Wellness

Strong savings. Employees put away $15,965/employee a year. That's more than 96% of similar plans.

A
lower96th 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.
Safe harbor not reported
The filing does not establish whether this plan uses a safe harbor design, so it does not affect the grade.
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.

C
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.
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Alight Solutions

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Key insights

  • Strongest area: financial wellness. Strong savings. Employees put away $15,965/employee a year. That's more than 96% 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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