City Year, Inc. 401(k) Review & Grade
City Year 401(k) Savings Plan
Boston, MAOther Services870 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,529Employer $ per active participant
$5,610Employee $ saved per active participant
0.17%Direct admin cost, % of plan assets
$82.1MNet plan assets, end of year
$71,534Average balance per account
Score breakdown
- Employer generosity38.3 / 5077th percentile for employer $ per participant
- Low cost15.1 / 2560th percentile for low admin cost vs. same-size plans
- Employee saving12.0 / 1580th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score68 / 100 · Grade B
This plan vs. peers
Peers: Other Services plans with 500–2,499 active participants (333 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 77th |
| Lower admin cost | 60th |
| Employee saving | 80th |
| Peers that auto-enroll | 40% |
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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
- City Year put in about $2,529 per active participant, more than the typical peer ($1,257). 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 | $2,198,655 |
| Participant (employee) contributions | $4,878,030 |
| Other contributions (incl. rollovers in) | $234,222 |
| Administrative expenses paid from the plan | $126,832 |
| Benefits paid out | $8,825,706 |
| Net assets, start / end of year | $71.5M / $82.1M |
| Active participants, start / end of year | 892 / 847 |
| Participants with account balances | 1,148 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Aafcpas, Inc. |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $126,832 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015105638NAL0006028512001, received 2025-10-15, EIN 22-2882549, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.