Kipp Bay Area Schools 401(k) Review & Grade
Kipp Bay Area Schools 401(k) Plan
Oakland, CAEducational Services840 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$3,512Employer $ per active participant
$6,439Employee $ saved per active participant
0.41%Direct admin cost, % of plan assets
$67.3MNet plan assets, end of year
$45,569Average balance per account
Score breakdown
- Employer generosity43.7 / 5087th percentile for employer $ per participant
- Low cost7.4 / 2530th percentile for low admin cost vs. same-size plans
- Employee saving12.7 / 1585th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score57 / 100 · Grade C
This plan vs. peers
Peers: Educational Services plans with 500–2,499 active participants (144 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 87th |
| Lower admin cost | 30th |
| Employee saving | 85th |
| Peers that auto-enroll | 37% |
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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 ($847,444 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- Kipp Bay Area Schools put in about $3,512 per active participant, more than the typical peer ($1,225). 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.
- Direct plan expenses (0.41% of assets) are well above similar-size plans (0.23%). Check your annual fee disclosure, choose low-cost index funds if you can, and think about whether savings beyond the match belong in an IRA.
- 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 | $2,948,510 |
| Participant (employee) contributions | $5,405,522 |
| Other contributions (incl. rollovers in) | $594,648 |
| Administrative expenses paid from the plan | $247,081 |
| Contract administrator fees | $20,000 |
| Investment advisory & management fees | $52,500 |
| Other admin expenses | $14,270 |
| Benefits paid out | $3,483,976 |
| Net assets, start / end of year | $53.2M / $67.3M |
| Active participants, start / end of year | 807 / 872 |
| Participants with account balances | 1,476 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Silicon Valley Accountancy Corp |
Largest service providers (Schedule C)
| Empower Annuity Ins. Co. of America | $129,418 reported compensation |
| Sageview Advisory Group, LLC | $52,500 reported compensation |
| Carlson Quinn and Associates | $20,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20260414144248NAL0024589616001, received 2026-04-14, EIN 20-5010766, plan #001, plan year 2024-07-01 to 2025-06-30. Verify at efast.dol.gov.