Patagonia Works 401(k) Review & Grade
Patagonia Works 401(k) Plan
Ventura, CAWholesale Trade2,168 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$6,938Employer $ per active participant
$7,341Employee $ saved per active participant
0.04%Direct admin cost, % of plan assets
$405.0MNet plan assets, end of year
$101,519Average balance per account
Score breakdown
- Employer generosity47.3 / 5095th percentile for employer $ per participant
- Low cost22.3 / 2589th percentile for low admin cost vs. same-size plans
- Employee saving12.2 / 1582th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score92 / 100 · Grade A
This plan vs. peers
Peers: Wholesale Trade plans with 500–2,499 active participants (603 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 95th |
| Lower admin cost | 89th |
| Employee saving | 82th |
| Peers that auto-enroll | 53% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Patagonia Works put in about $6,938 per active participant, more than the typical peer ($1,792). 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.
- 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 | $15,038,445 |
| Participant (employee) contributions | $15,910,943 |
| Other contributions (incl. rollovers in) | $1,356,764 |
| Administrative expenses paid from the plan | $170,686 |
| Other admin expenses | $35,686 |
| Benefits paid out | $27,729,754 |
| Net assets, start / end of year | $364.6M / $405.0M |
| Active participants, start / end of year | 2,266 / 2,069 |
| Participants with account balances | 3,989 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Miller Kaplan Arase LLP |
Largest service providers (Schedule C)
| The Vanguard Group, Inc. | $165,463 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20260212135049NAL0000184819001, received 2026-02-12, EIN 95-2785810, plan #003, plan year 2024-05-01 to 2025-04-30. Verify at efast.dol.gov.