Madison Reed 401(k) Review & Grade
Madison-Reed 401(k) Plan
San Francisco, CAOther Services862 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$9Employer $ per active participant
$3,613Employee $ saved per active participant
0.30%Direct admin cost, % of plan assets
$10.8MNet plan assets, end of year
$8,500Average balance per account
Score breakdown
- Employer generosity3.2 / 506th percentile for employer $ per participant
- Low cost10.0 / 2540th percentile for low admin cost vs. same-size plans
- Employee saving9.4 / 1563th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score23 / 100 · Grade F
This plan vs. peers
Peers: Other Services plans with 500–2,499 active participants (333 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 6th |
| Lower admin cost | 40th |
| Employee saving | 63th |
| Peers that auto-enroll | 40% |
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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 ($476 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
- Madison Reed put in about $9 per active participant, below the typical peer ($1,257). 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.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- 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 | $7,376 |
| Participant (employee) contributions | $3,116,218 |
| Other contributions (incl. rollovers in) | $185,456 |
| Administrative expenses paid from the plan | $28,456 |
| Contract administrator fees | $28,456 |
| Benefits paid out | $1,587,483 |
| Net assets, start / end of year | $7.9M / $10.8M |
| Active participants, start / end of year | 767 / 958 |
| Participants with account balances | 1,273 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Baker Tilly US, LLP |
Largest service providers (Schedule C)
| The Vanguard Group, Inc. | $28,456 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014202135NAL0004897952001, received 2025-10-14, EIN 46-2427365, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.