Seyfarth Shaw LLP 401(k) Review & Grade
Seyfarth Shaw LLP 401(k) Savings and Retirement Plan
Chicago, ILProfessional, Scientific & Technical Services1,838 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$13,265Employer $ per active participant
$15,066Employee $ saved per active participant
0.09%Direct admin cost, % of plan assets
$925.9MNet plan assets, end of year
$327,064Average balance per account
Score breakdown
- Employer generosity47.8 / 5096th percentile for employer $ per participant
- Low cost19.3 / 2577th percentile for low admin cost vs. same-size plans
- Employee saving13.3 / 1588th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score77 / 100 · Grade A
This plan vs. peers
Peers: Professional, Scientific & Technical Services plans with 500–2,499 active participants (1,469 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 96th |
| Lower admin cost | 77th |
| Employee saving | 88th |
| Peers that auto-enroll | 48% |
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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 ($11 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $3,856 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Seyfarth Shaw LLP put in about $13,265 per active participant, more than the typical peer ($3,082). 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 | $24,387,874 |
| Participant (employee) contributions | $27,699,239 |
| Other contributions (incl. rollovers in) | $6,060,938 |
| Administrative expenses paid from the plan | $755,634 |
| Investment advisory & management fees | $625,467 |
| Benefits paid out | $55,789,063 |
| Net assets, start / end of year | $816.4M / $925.9M |
| Active participants, start / end of year | 1,915 / 1,762 |
| Participants with account balances | 2,831 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Crowe Horwath LLP |
Largest service providers (Schedule C)
| Schwab Retirement Plan Services Inc | $395,169 reported compensation |
| Corient Private Wealth LLC | $74,153 reported compensation |
| Heinz Global Asset Mgmt Inc | $39,263 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015111836NAL0004688161001, received 2025-10-15, EIN 36-2152202, plan #004, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.