Parsons Corporation 401(k) Review & Grade
Parsons Corporation Retirement Savings Plan
Chantilly, VAProfessional, Scientific & Technical Services10,470 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3,615Employer $ per active participant
$10,216Employee $ saved per active participant
0.03%Direct admin cost, % of plan assets
$2.3BNet plan assets, end of year
$147,145Average balance per account
Score breakdown
- Employer generosity31.9 / 5064th percentile for employer $ per participant
- Low cost20.8 / 2583th percentile for low admin cost vs. same-size plans
- Employee saving10.0 / 1567th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score60 / 100 · Grade B
This plan vs. peers
Peers: Professional, Scientific & Technical Services plans with 10,000+ active participants (70 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 64th |
| Lower admin cost | 83th |
| Employee saving | 67th |
| Peers that auto-enroll | 39% |
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
Late deposits: the filing says some employee contributions were not sent to the plan on time ($90,374 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $27,707 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Parsons put in about $3,615 per active participant, more than the typical peer ($2,932). 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 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 | $37,849,039 |
| Participant (employee) contributions | $106,971,188 |
| Other contributions (incl. rollovers in) | $30,402,987 |
| Administrative expenses paid from the plan | $651,370 |
| Contract administrator fees | $439,490 |
| Investment advisory & management fees | $57,310 |
| Other admin expenses | $4,816 |
| Benefits paid out | $239,244,423 |
| Net assets, start / end of year | $2.0B / $2.3B |
| Active participants, start / end of year | 10,395 / 10,546 |
| Participants with account balances | 15,459 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Baker Tilly US, LLP |
| Employer stock held by plan | $11,531 |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $439,451 reported compensation |
| Sageview Advisory Group, LLC | $133,374 reported compensation |
| Synder Cohn | $48,500 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015155928NAL0002711523001, received 2025-10-15, EIN 95-3232481, plan #115, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.