Fortinet, Inc. 401(k) Review & Grade
Fortinet Inc. 401(k) Plan
Sunnyvale, CAProfessional, Scientific & Technical Services3,939 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$3,363Employer $ per active participant
$17,769Employee $ saved per active participant
0.04%Direct admin cost, % of plan assets
$628.8MNet plan assets, end of year
$130,481Average balance per account
Score breakdown
- Employer generosity28.9 / 5058th percentile for employer $ per participant
- Low cost20.6 / 2582th percentile for low admin cost vs. same-size plans
- Employee saving13.8 / 1592th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score63 / 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 | 58th |
| Lower admin cost | 82th |
| Employee saving | 92th |
| Peers that auto-enroll | 47% |
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 $7,387 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Fortinet put in about $3,363 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.
- 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 | $13,246,493 |
| Participant (employee) contributions | $69,993,111 |
| Other contributions (incl. rollovers in) | $21,857,313 |
| Administrative expenses paid from the plan | $236,853 |
| Contract administrator fees | $3,000 |
| Investment advisory & management fees | $105,808 |
| Benefits paid out | $41,709,650 |
| Net assets, start / end of year | $478.9M / $628.8M |
| Active participants, start / end of year | 3,826 / 4,052 |
| Participants with account balances | 4,819 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Miller Kaplan Arase LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $144,852 reported compensation |
| Innovest Portfolio Solutions, LLC | $105,808 reported compensation |
| Miller Kaplan | $7,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20260617150119NAL0002359697001, received 2026-06-17, EIN 77-0560389, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.