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Grade My 401(k)
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1 issue

Morrison & Foerster LLP

94-0697210· San Francisco, CA· Charles Schwab· 2024 filing· vs 903 plans your size in your industry
A
0/100
Overall grade

Strong plan across the board.

A
Fees
A
Financial Wellness
B
Plan design
B
Compliance
Fees

Your plan pays around 1 bps of assets per year. Similar plans pay around 12 bps. Your plan is cheaper than about 94% of similar plans.

A
cheaper6th percentilepricier
Financial Wellness

Strong savings. Employees put away $19,331/employee a year. That's more than 98% of similar plans.

A
lower98th percentilehigher
Plan design

The employer contributes through profit sharing rather than a standard match.

B
Employer contributes via profit sharing
No standard match, but the employer puts money in through profit sharing. Often a flat percentage to everyone, which works like a match for employees.
Automatic enrollment
New hires are enrolled by default. Plans with auto-enroll see much higher participation.
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 item to review, nothing critical.

B
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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Charles Schwab

No provider notes available.

Key insights

  • Strongest area: financial wellness. Strong savings. Employees put away $19,331/employee a year. That's more than 98% of similar plans.
  • Best place to improve: compliance & health. 1 item to review, nothing critical.
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