Columbia Banking System, Inc. 401(k) Review & Grade
Umpqua Bank 401(k) and Profit Sharing Plan
Tacoma, WAFinance & Insurance4,811 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,578Employer $ per active participant
$7,708Employee $ saved per active participant
0.07%Direct admin cost, % of plan assets
$761.3MNet plan assets, end of year
$102,633Average balance per account
Score breakdown
- Employer generosity9.6 / 5019th percentile for employer $ per participant
- Low cost16.8 / 2567th percentile for low admin cost vs. same-size plans
- Employee saving6.2 / 1541th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score23 / 100 · Grade F
This plan vs. peers
Peers: Finance & Insurance plans with 2,500–9,999 active participants (199 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 19th |
| Lower admin cost | 67th |
| Employee saving | 41th |
| Peers that auto-enroll | 66% |
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Red flags from the filing
Benefits not paid when due: the plan reported failing to pay some benefits on time.
Corrective distributions: the plan refunded $93,400 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Columbia Banking System put in about $2,578 per active participant, below the typical peer ($4,489). Any match is still an instant return, so contribute enough to get all of it.
- 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 | $12,404,755 |
| Participant (employee) contributions | $37,083,808 |
| Other contributions (incl. rollovers in) | $5,468,320 |
| Administrative expenses paid from the plan | $534,681 |
| Contract administrator fees | $2,100 |
| Other admin expenses | $75,000 |
| Benefits paid out | $85,462,012 |
| Net assets, start / end of year | $695.3M / $761.3M |
| Active participants, start / end of year | 4,927 / 4,695 |
| Participants with account balances | 7,418 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Delap LLP |
| Employer stock held by plan | $15,200,698 |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $459,782 reported compensation |
| Highland Capital Advisors, LLC | $75,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250804202216NAL0001270497001, received 2025-08-04, EIN 91-1422237, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.