Blackbaud, Inc. 401(k) Review & Grade
Blackbaud Retirement Savings Plan
Charleston, SCProfessional, Scientific & Technical Services2,498 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3,323Employer $ per active participant
$11,129Employee $ saved per active participant
0.10%Direct admin cost, % of plan assets
$536.9MNet plan assets, end of year
$138,588Average balance per account
Score breakdown
- Employer generosity27.2 / 5054th percentile for employer $ per participant
- Low cost18.2 / 2573th percentile for low admin cost vs. same-size plans
- Employee saving10.2 / 1568th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score63 / 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 | 54th |
| Lower admin cost | 73th |
| Employee saving | 68th |
| Peers that auto-enroll | 48% |
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Red flags from the filing
Corrective distributions: the plan refunded $1,149 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Blackbaud put in about $3,323 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 | $8,301,726 |
| Participant (employee) contributions | $27,806,147 |
| Other contributions (incl. rollovers in) | $4,387,305 |
| Administrative expenses paid from the plan | $529,707 |
| Other admin expenses | $529,707 |
| Benefits paid out | $42,229,002 |
| Net assets, start / end of year | $473.6M / $536.9M |
| Active participants, start / end of year | 2,556 / 2,441 |
| Participants with account balances | 3,874 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Forvis Mazars, LLP |
Largest service providers (Schedule C)
| Merrill Lynch, Pierce, Fenner and S | $154,235 reported compensation |
| Captrust | $16,712 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250908193910NAL0019598929001, received 2025-09-08, EIN 11-2617163, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.