Betmgm, LLC 401(k) Review & Grade
Betmgm 401(k) Plan
Jersey City, NJArts, Entertainment & Recreation1,338 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$3,045Employer $ per active participant
$5,038Employee $ saved per active participant
0.33%Direct admin cost, % of plan assets
$38.5MNet plan assets, end of year
$36,263Average balance per account
Score breakdown
- Employer generosity45.3 / 5091th percentile for employer $ per participant
- Low cost9.2 / 2537th percentile for low admin cost vs. same-size plans
- Employee saving13.0 / 1587th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score68 / 100 · Grade B
This plan vs. peers
Peers: Arts, Entertainment & Recreation plans with 500–2,499 active participants (225 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 91th |
| Lower admin cost | 37th |
| Employee saving | 87th |
| Peers that auto-enroll | 38% |
Get the monthly 401(k) report card
The best and worst plans, new grades as filings post. One email a month, no spam.
Red flags from the filing
Corrective distributions: the plan refunded $932 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Betmgm put in about $3,045 per active participant, more than the typical peer ($995). 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.
- 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 | $4,075,474 |
| Participant (employee) contributions | $6,742,953 |
| Other contributions (incl. rollovers in) | $2,563,648 |
| Administrative expenses paid from the plan | $103,381 |
| Benefits paid out | $2,537,158 |
| Net assets, start / end of year | $23.8M / $38.5M |
| Active participants, start / end of year | 1,114 / 1,563 |
| Participants with account balances | 1,063 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Bdo USA, P. C. |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014104045NAL0003666080001, received 2025-10-14, EIN 83-1679867, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.