Sullivan & Cromwell LLP 401(k) Review & Grade
Sullivan & Cromwell LLP Employees' Savings Plan
New York, NYProfessional, Scientific & Technical Services658 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$9,991Employer $ per active participant
$14,477Employee $ saved per active participant
0.04%Direct admin cost, % of plan assets
$394.0MNet plan assets, end of year
$331,927Average balance per account
Score breakdown
- Employer generosity45.5 / 5091th percentile for employer $ per participant
- Low cost22.7 / 2591th percentile for low admin cost vs. same-size plans
- Employee saving13.0 / 1586th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score88 / 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 | 91th |
| Lower admin cost | 91th |
| Employee saving | 86th |
| Peers that auto-enroll | 48% |
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Red flags from the filing
Corrective distributions: the plan refunded $14,424 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Sullivan & Cromwell LLP put in about $9,991 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.
- 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 | $6,579,141 |
| Participant (employee) contributions | $9,532,794 |
| Other contributions (incl. rollovers in) | $654,765 |
| Administrative expenses paid from the plan | $137,355 |
| Investment advisory & management fees | $12,299 |
| Other admin expenses | $47,290 |
| Benefits paid out | $28,351,225 |
| Net assets, start / end of year | $343.4M / $394.0M |
| Active participants, start / end of year | 632 / 685 |
| Participants with account balances | 1,187 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Pricewaterhousecoopers |
Largest service providers (Schedule C)
| Cook Street Consulting | $47,299 reported compensation |
| Pricewaterhousecoopers LLP | $28,500 reported compensation |
| Seyfarth Shaw LLP | $26,769 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015164536NAL0006962528001, received 2025-10-15, EIN 13-5420320, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.