Broadridge Financial Solutions, Inc. 401(k) Review & Grade
Broadridge Financial Solutions, Inc. Retirement Savings Plan
Newark, NJProfessional, Scientific & Technical Services6,868 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$7,237Employer $ per active participant
$10,939Employee $ saved per active participant
0.03%Direct admin cost, % of plan assets
$1.9BNet plan assets, end of year
$220,355Average balance per account
Score breakdown
- Employer generosity43.3 / 5087th percentile for employer $ per participant
- Low cost22.3 / 2589th percentile for low admin cost vs. same-size plans
- Employee saving9.1 / 1561th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-23 pts3 issues reported on the filing
Total score62 / 100 · Grade B
This plan vs. peers
Peers: Professional, Scientific & Technical Services plans with 2,500–9,999 active participants (231 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 87th |
| Lower admin cost | 89th |
| Employee saving | 61th |
| Peers that auto-enroll | 47% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($136,206 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Benefits not paid when due: the plan reported failing to pay some benefits on time.
Corrective distributions: the plan refunded $3,533 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Broadridge Financial Solutions put in about $7,237 per active participant, more than the typical peer ($2,951). 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.
- The plan reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- 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 | $49,705,742 |
| Participant (employee) contributions | $75,133,912 |
| Other contributions (incl. rollovers in) | $11,151,466 |
| Administrative expenses paid from the plan | $570,336 |
| Contract administrator fees | $1,500 |
| Benefits paid out | $194,940,439 |
| Net assets, start / end of year | $1.7B / $1.9B |
| Active participants, start / end of year | 6,935 / 6,802 |
| Participants with account balances | 8,690 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Cohnreznick |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $513,367 reported compensation |
| Cohnreznick LLP | $38,850 reported compensation |
| Morgan Lewis & Bockius LLP | $17,526 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251010093226NAL0007442721001, received 2025-10-10, EIN 33-1151291, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.