Duolingo, Inc. 401(k) Review & Grade
Duolingo Retirement Trust
Pittsburgh, PAProfessional, Scientific & Technical Services719 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$9,649Employer $ per active participant
$18,203Employee $ saved per active participant
0.16%Direct admin cost, % of plan assets
$94.4MNet plan assets, end of year
$98,941Average balance per account
Score breakdown
- Employer generosity45.2 / 5090th percentile for employer $ per participant
- Low cost15.5 / 2562th percentile for low admin cost vs. same-size plans
- Employee saving14.5 / 1597th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score82 / 100 · Grade A
This plan vs. peers
Peers: Professional, Scientific & Technical Services plans with 500–2,499 active participants (1,469 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 90th |
| Lower admin cost | 62th |
| Employee saving | 97th |
| Peers that auto-enroll | 48% |
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Red flags from the filing
Corrective distributions: the plan refunded $9,609 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Duolingo put in about $9,649 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 | $6,937,298 |
| Participant (employee) contributions | $13,087,664 |
| Other contributions (incl. rollovers in) | $3,174,986 |
| Administrative expenses paid from the plan | $124,614 |
| Contract administrator fees | $6,280 |
| Investment advisory & management fees | $118,334 |
| Benefits paid out | $4,689,713 |
| Net assets, start / end of year | $65.1M / $94.4M |
| Active participants, start / end of year | 666 / 772 |
| Participants with account balances | 954 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Louis Plung & Company, LLP |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company | $98,524 reported compensation |
| M2b Retirement Consulting LLC | $15,772 reported compensation |
| Assured Partners Capital Inc | $11,998 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250722065449NAL0001075667001, received 2025-07-22, EIN 45-3055872, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.