23andme, Inc. 401(k) Review & Grade
23andme, Inc. 401(k) Plan
Sunnyvale, CAInformation546 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$4,293Employer $ per active participant
$21,831Employee $ saved per active participant
0.03%Direct admin cost, % of plan assets
$124.2MNet plan assets, end of year
$121,535Average balance per account
Score breakdown
- Employer generosity36.4 / 5073th percentile for employer $ per participant
- Low cost23.1 / 2592th percentile for low admin cost vs. same-size plans
- Employee saving14.9 / 1599th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score81 / 100 · Grade A
This plan vs. peers
Peers: Information plans with 500–2,499 active participants (310 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 73th |
| Lower admin cost | 92th |
| Employee saving | 99th |
| Peers that auto-enroll | 59% |
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Red flags from the filing
Corrective distributions: the plan refunded $2,127 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- 23andme put in about $4,293 per active participant, more than the typical peer ($2,829). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- The filing shows total dollars, not the match formula. Ask HR for the Summary Plan Description so you know the exact match and vesting schedule.
- Fund expense ratios aren't in the filing. Look them up in your 404(a)(5) fee disclosure and favor low-cost index or target-date funds.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- Changing jobs? You can usually leave the money in the plan, move it to your new employer's plan, or roll it into an IRA. Don't cash out: you'd owe taxes and possibly a 10% penalty.
The raw numbers from the filing
| Employer contributions | $2,346,122 |
| Participant (employee) contributions | $11,930,609 |
| Other contributions (incl. rollovers in) | $953,745 |
| Administrative expenses paid from the plan | $36,231 |
| Benefits paid out | $10,362,412 |
| Net assets, start / end of year | $103.1M / $124.2M |
| Active participants, start / end of year | 615 / 478 |
| Participants with account balances | 1,022 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Frank Rimerman & Co., LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $36,231 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014102707NAL0005460898001, received 2025-10-14, EIN 20-4857371, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.