Deseret Mutual Benefit Administrators 401(k) Review & Grade
Deseret 401(k) Plan
Salt Lake City, UTFinance & Insurance25,526 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$7,297Employer $ per active participant
$6,936Employee $ saved per active participant
0.01%Direct admin cost, % of plan assets
$6.1BNet plan assets, end of year
$154,423Average balance per account
Score breakdown
- Employer generosity34.5 / 5069th percentile for employer $ per participant
- Low cost23.7 / 2595th percentile for low admin cost vs. same-size plans
- Employee saving1.5 / 1510th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score70 / 100 · Grade B
This plan vs. peers
Peers: Finance & Insurance plans with 10,000+ active participants (72 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 69th |
| Lower admin cost | 95th |
| Employee saving | 10th |
| Peers that auto-enroll | 74% |
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
- Deseret Mutual Benefit Administrators put in about $7,297 per active participant, more than the typical peer ($5,179). 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 | $186,266,915 |
| Participant (employee) contributions | $177,052,816 |
| Other contributions (incl. rollovers in) | $19,688,208 |
| Administrative expenses paid from the plan | $716,886 |
| Contract administrator fees | $716,886 |
| Benefits paid out | $341,010,381 |
| Net assets, start / end of year | $5.5B / $6.1B |
| Active participants, start / end of year | 25,301 / 25,752 |
| Participants with account balances | 39,798 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Deloitte & Touche LLP |
Largest service providers (Schedule C)
| Empower Trust Company LLC | $860,399 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250728101713NAL0001853025001, received 2025-07-28, EIN 87-0440163, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.
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