Toast, Inc. 401(k) Review & Grade
Toast, Inc. 401(k) Plan
Boston, MAProfessional, Scientific & Technical Services4,748 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3,748Employer $ per active participant
$11,323Employee $ saved per active participant
0.14%Direct admin cost, % of plan assets
$323.2MNet plan assets, end of year
$55,648Average balance per account
Score breakdown
- Employer generosity31.5 / 5063th percentile for employer $ per participant
- Low cost11.5 / 2546th percentile for low admin cost vs. same-size plans
- Employee saving9.7 / 1564th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score60 / 100 · Grade B
This plan vs. peers
Peers: Professional, Scientific & Technical Services plans with 2,500–9,999 active participants (231 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 63th |
| Lower admin cost | 46th |
| Employee saving | 64th |
| Peers that auto-enroll | 47% |
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
Corrective distributions: the plan refunded $41,235 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Toast put in about $3,748 per active participant, more than the typical peer ($2,951). 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 | $17,794,427 |
| Participant (employee) contributions | $53,755,034 |
| Other contributions (incl. rollovers in) | $9,895,437 |
| Administrative expenses paid from the plan | $384,125 |
| Benefits paid out | $25,371,873 |
| Net assets, start / end of year | $226.9M / $323.2M |
| Active participants, start / end of year | 4,696 / 4,799 |
| Participants with account balances | 5,808 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Boivin & Associates, Cpas, PLLC |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $384,125 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014081512NAL0005053698001, received 2025-10-14, EIN 45-4168768, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.