Barclays Services Corporation 401(k) Review & Grade
Barclays 401(k) Plan
New York, NYFinance & Insurance12,035 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$8,342Employer $ per active participant
$13,115Employee $ saved per active participant
0.04%Direct admin cost, % of plan assets
$3.6BNet plan assets, end of year
$192,358Average balance per account
Score breakdown
- Employer generosity40.1 / 5080th percentile for employer $ per participant
- Low cost19.4 / 2578th percentile for low admin cost vs. same-size plans
- Employee saving13.3 / 1589th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score66 / 100 · Grade B
This plan vs. peers
Peers: Finance & Insurance plans with 10,000+ active participants (72 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 80th |
| Lower admin cost | 78th |
| Employee saving | 89th |
| Peers that auto-enroll | 74% |
Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($3,283 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- Barclays Services put in about $8,342 per active participant, more than the typical peer ($5,179). 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 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 | $100,397,183 |
| Participant (employee) contributions | $157,835,583 |
| Other contributions (incl. rollovers in) | $29,998,574 |
| Administrative expenses paid from the plan | $1,316,979 |
| Investment advisory & management fees | $170,062 |
| Benefits paid out | $277,943,748 |
| Net assets, start / end of year | $3.1B / $3.6B |
| Active participants, start / end of year | 12,572 / 11,498 |
| Participants with account balances | 18,481 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | KPMG, LLP |
Largest service providers (Schedule C)
| Empower Life & Annuity Insurance Co | $634,924 reported compensation |
| Orrick Herrington & Sutcliffe LLP | $216,127 reported compensation |
| Towers Watson Investment Services I | $170,061 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014115153NAL0001334579001, received 2025-10-14, EIN 13-3714398, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.
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