Genesys Cloud Services, Inc. 401(k) Review & Grade
Genesys Retirement Savings Plan
Menlo Park, CAProfessional, Scientific & Technical Services2,726 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$3,273Employer $ per active participant
$15,243Employee $ saved per active participant
0.06%Direct admin cost, % of plan assets
$672.8MNet plan assets, end of year
$185,456Average balance per account
Score breakdown
- Employer generosity27.8 / 5056th percentile for employer $ per participant
- Low cost18.6 / 2574th percentile for low admin cost vs. same-size plans
- Employee saving12.5 / 1583th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score49 / 100 · Grade C
This plan vs. peers
Peers: Professional, Scientific & Technical Services plans with 2,500–9,999 active participants (231 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 56th |
| Lower admin cost | 74th |
| Employee saving | 83th |
| 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 ($10 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $2,035 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Genesys Cloud Services put in about $3,273 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 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 | $8,920,854 |
| Participant (employee) contributions | $41,544,925 |
| Other contributions (incl. rollovers in) | $8,578,354 |
| Administrative expenses paid from the plan | $363,797 |
| Contract administrator fees | $600 |
| Investment advisory & management fees | $347,664 |
| Benefits paid out | $71,637,502 |
| Net assets, start / end of year | $587.1M / $672.8M |
| Active participants, start / end of year | 2,678 / 2,773 |
| Participants with account balances | 3,628 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Forvis Mazars, LLP |
Largest service providers (Schedule C)
| Strategic Advisors, Inc. | $242,664 reported compensation |
| Morgan Stanley Domestic Holdings, | $105,000 reported compensation |
| Forvis Mazars, LLP | $20,050 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250915150531NAL0001250689001, received 2025-09-15, EIN 94-3120525, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.