Verifone, Inc. 401(k) Review & Grade
Verifone, Inc. 401(k) Retirement Savings & Investment Plan
New York, NYProfessional, Scientific & Technical Services585 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3,863Employer $ per active participant
$9,242Employee $ saved per active participant
0.09%Direct admin cost, % of plan assets
$178.2MNet plan assets, end of year
$143,595Average balance per account
Score breakdown
- Employer generosity31.1 / 5062th percentile for employer $ per participant
- Low cost19.3 / 2577th percentile for low admin cost vs. same-size plans
- Employee saving7.8 / 1552th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score68 / 100 · Grade B
This plan vs. peers
Peers: Professional, Scientific & Technical Services plans with 500–2,499 active participants (1,469 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 62th |
| Lower admin cost | 77th |
| Employee saving | 52th |
| Peers that auto-enroll | 48% |
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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
- Verifone put in about $3,863 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 | $2,259,771 |
| Participant (employee) contributions | $5,406,718 |
| Other contributions (incl. rollovers in) | $1,176,964 |
| Administrative expenses paid from the plan | $152,051 |
| Investment advisory & management fees | $97,714 |
| Benefits paid out | $25,047,006 |
| Net assets, start / end of year | $167.4M / $178.2M |
| Active participants, start / end of year | 630 / 540 |
| Participants with account balances | 1,241 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Baker Tilly US, LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $56,207 reported compensation |
| LPL Financial LLC | $50,000 reported compensation |
| Strategic Advisors, Inc. | $47,714 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250912130234NAL0001322449001, received 2025-09-12, EIN 99-0206064, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.