Blackhawk Network Holdings, Inc. 401(k) Review & Grade

Blackhawk Network 401(k) Plan

Pleasanton, CAWholesale Trade1,774 active participantsPlan year 2024✓ Auto-enroll

Estimate from the plan's Form 5500 filing · How we grade

$2,725Employer $ per active participant

$8,933Employee $ saved per active participant

$0 reportedDirect admin cost, % of plan assets

$212.9MNet plan assets, end of year

$76,629Average balance per account

Score breakdown

Employer generosity34.8 / 50
70th percentile for employer $ per participant
Low cost12.5 / 25
No direct expenses reported, scored neutral
Employee saving13.6 / 15
91th percentile for employee $ per participant
Plan features10 / 10
Auto-enrollment, Default investment

Total score71 / 100 · Grade B

This plan vs. peers

Peers: Wholesale Trade plans with 500–2,499 active participants (603 plans).

Measure	Percentile
Employer $ per participant	70th
Lower admin cost	neutral
Employee saving	91th
Peers that auto-enroll	53%

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Red flags from the filing

No red flags were reported on this filing's compliance questions.

What to do if you're in this plan

Blackhawk Network Holdings put in about $2,725 per active participant, more than the typical peer ($1,792). 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.
The plan reported no administrative expenses paid from plan assets. The employer may pay them, or the costs may be built into fund fees. Check your 404(a)(5) fee disclosure for each fund's expense ratio.
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	$4,833,305
Participant (employee) contributions	$15,841,948
Other contributions (incl. rollovers in)	$8,826,800
Administrative expenses paid from the plan	$0
Benefits paid out	$15,070,784
Net assets, start / end of year	$172.3M / $212.9M
Active participants, start / end of year	1,811 / 1,736
Participants with account balances	2,778
Auto-enrollment (feature code 2S)	Yes
Auditor	Baker Tilley US, LLP

Largest service providers (Schedule C)

Jpmorgan Invest Holdings LLC

$0 reported compensation

Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251001083401NAL0012358001001, received 2025-10-01, EIN 43-2099257, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.