Credit Karma, LLC 401(k) Review & Grade
Credit Karma, LLC Retirement Trust
Oakland, CAInformation1,566 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$11,317Employer $ per active participant
$19,516Employee $ saved per active participant
0.08%Direct admin cost, % of plan assets
$359.3MNet plan assets, end of year
$170,930Average balance per account
Score breakdown
- Employer generosity49.5 / 5099th percentile for employer $ per participant
- Low cost20.1 / 2580th percentile for low admin cost vs. same-size plans
- Employee saving14.6 / 1597th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score84 / 100 · Grade A
This plan vs. peers
Peers: Information plans with 500–2,499 active participants (310 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 99th |
| Lower admin cost | 80th |
| Employee saving | 97th |
| Peers that auto-enroll | 59% |
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Red flags from the filing
Corrective distributions: the plan refunded $4,714 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Credit Karma put in about $11,317 per active participant, more than the typical peer ($2,829). 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 | $17,727,560 |
| Participant (employee) contributions | $30,571,610 |
| Other contributions (incl. rollovers in) | $2,890,363 |
| Administrative expenses paid from the plan | $237,835 |
| Investment advisory & management fees | $83,223 |
| Benefits paid out | $11,613,720 |
| Net assets, start / end of year | $272.5M / $359.3M |
| Active participants, start / end of year | 1,597 / 1,536 |
| Participants with account balances | 2,102 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | BPM LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $154,612 reported compensation |
| Strategic Advisors, Inc. | $83,223 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20260326193440NAL0008213890001, received 2026-03-26, EIN 26-0451139, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.