Workday, Inc. 401(k) Review & Grade
Workday, Inc. 401(k) Plan
Pleasanton, CAProfessional, Scientific & Technical Services12,432 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$5,609Employer $ per active participant
$20,203Employee $ saved per active participant
0.06%Direct admin cost, % of plan assets
$2.6BNet plan assets, end of year
$174,274Average balance per account
Score breakdown
- Employer generosity42.8 / 5086th percentile for employer $ per participant
- Low cost16.5 / 2566th percentile for low admin cost vs. same-size plans
- Employee saving14.8 / 1599th percentile for employee $ per participant
- Plan features0 / 10No auto-enrollment or default investment reported
- Red-flag deductions-3 pts1 issue reported on the filing
Total score71 / 100 · Grade B
This plan vs. peers
Peers: Professional, Scientific & Technical Services plans with 10,000+ active participants (70 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 86th |
| Lower admin cost | 66th |
| Employee saving | 99th |
| Peers that auto-enroll | 39% |
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Red flags from the filing
Corrective distributions: the plan refunded $39,870 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Workday put in about $5,609 per active participant, more than the typical peer ($2,932). 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.
- 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 | $69,727,407 |
| Participant (employee) contributions | $251,160,207 |
| Other contributions (incl. rollovers in) | $66,598,583 |
| Administrative expenses paid from the plan | $1,324,444 |
| Contract administrator fees | $900 |
| Investment advisory & management fees | $449,131 |
| Other admin expenses | $435,707 |
| Benefits paid out | $130,754,459 |
| Net assets, start / end of year | $2.0B / $2.6B |
| Active participants, start / end of year | 12,114 / 12,750 |
| Participants with account balances | 14,983 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Miller, Kaplan, Arase LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $478,266 reported compensation |
| Strategic Advisors, Inc. | $449,131 reported compensation |
| The Segal Company Inc | $304,457 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013112359NAL0001204753001, received 2025-10-13, EIN 20-2480422, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.