Bentley Systems, Inc. 401(k) Review & Grade
Bentley Systems, Incorporated Profit Sharing/401(k) Plan
Exton, PAInformation1,606 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3,122Employer $ per active participant
$10,652Employee $ saved per active participant
0.11%Direct admin cost, % of plan assets
$595.2MNet plan assets, end of year
$264,875Average balance per account
Score breakdown
- Employer generosity28.0 / 5056th percentile for employer $ per participant
- Low cost18.2 / 2573th percentile for low admin cost vs. same-size plans
- Employee saving9.5 / 1563th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score63 / 100 · Grade B
This plan vs. peers
Peers: Information plans with 500–2,499 active participants (310 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 56th |
| Lower admin cost | 73th |
| Employee saving | 63th |
| Peers that auto-enroll | 59% |
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Red flags from the filing
Corrective distributions: the plan refunded $4,809 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Bentley Systems put in about $3,122 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 | $5,012,532 |
| Participant (employee) contributions | $17,102,270 |
| Other contributions (incl. rollovers in) | $4,199,607 |
| Administrative expenses paid from the plan | $649,897 |
| Investment advisory & management fees | $174,708 |
| Other admin expenses | $389,149 |
| Benefits paid out | $96,914,260 |
| Net assets, start / end of year | $628.0M / $595.2M |
| Active participants, start / end of year | 1,582 / 1,629 |
| Participants with account balances | 2,247 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Caron & Bletzer, PLLC |
| Employer stock held by plan | $158,296,376 |
Largest service providers (Schedule C)
| Empower Advisory Group, LLC | $123,433 reported compensation |
| Empower Annuity Insurance Company O | $68,841 reported compensation |
| Capfinancial Partners LLC DBA Captr | $43,775 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251010113842NAL0007633297001, received 2025-10-10, EIN 95-3936623, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.