Oppenheimer & Co. Inc 401(k) Review & Grade
Oppenheimer & Co. Inc. 401(k) Plan
New York, NYFinance & Insurance2,883 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,713Employer $ per active participant
$12,012Employee $ saved per active participant
0.02%Direct admin cost, % of plan assets
$700.1MNet plan assets, end of year
$190,346Average balance per account
Score breakdown
- Employer generosity5.3 / 5011th percentile for employer $ per participant
- Low cost23.8 / 2595th percentile for low admin cost vs. same-size plans
- Employee saving12.4 / 1583th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score49 / 100 · Grade C
This plan vs. peers
Peers: Finance & Insurance plans with 2,500–9,999 active participants (199 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 11th |
| Lower admin cost | 95th |
| Employee saving | 83th |
| Peers that auto-enroll | 66% |
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Red flags from the filing
Corrective distributions: the plan refunded $6,448 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Oppenheimer & Co. put in about $1,713 per active participant, below the typical peer ($4,489). 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.
- 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 | $4,939,711 |
| Participant (employee) contributions | $34,630,695 |
| Other contributions (incl. rollovers in) | $1,456,863 |
| Administrative expenses paid from the plan | $117,791 |
| Contract administrator fees | $63,591 |
| Benefits paid out | $53,630,253 |
| Net assets, start / end of year | $603.0M / $700.1M |
| Active participants, start / end of year | 2,852 / 2,914 |
| Participants with account balances | 3,678 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | SB & Company LLC |
| Employer stock held by plan | $36,321,533 |
Largest service providers (Schedule C)
| John Hancock | $63,591 reported compensation |
| Plante & Moran | $54,200 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250626082308NAL0008763617001, received 2025-06-26, EIN 13-5657518, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.