Extra Space Management, Inc. 401(k) Review & Grade
Extra Space Management, Inc. 401(k) Plan
Salt Lake City, UTReal Estate & Rental7,618 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,070Employer $ per active participant
$2,331Employee $ saved per active participant
0.26%Direct admin cost, % of plan assets
$168.4MNet plan assets, end of year
$38,146Average balance per account
Score breakdown
- Employer generosity23.5 / 5047th percentile for employer $ per participant
- Low cost6.7 / 2527th percentile for low admin cost vs. same-size plans
- Employee saving5.8 / 1539th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score29 / 100 · Grade F
This plan vs. peers
Peers: Real Estate & Rental plans with 2,500–9,999 active participants (50 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 47th |
| Lower admin cost | 27th |
| Employee saving | 39th |
| Peers that auto-enroll | 46% |
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Red flags from the filing
Benefits not paid when due: the plan reported failing to pay some benefits on time.
What to do if you're in this plan
- Extra Space Management put in about $1,070 per active participant, below the typical peer ($1,141). Any match is still an instant return, so contribute enough to get all of it.
- 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.
- Direct plan expenses (0.26% of assets) are well above similar-size plans (0.12%). Check your annual fee disclosure, choose low-cost index funds if you can, and think about whether savings beyond the match belong in an IRA.
- 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 | $8,148,582 |
| Participant (employee) contributions | $17,756,489 |
| Other contributions (incl. rollovers in) | $2,819,846 |
| Administrative expenses paid from the plan | $396,952 |
| Contract administrator fees | $900 |
| Investment advisory & management fees | $51,250 |
| Other admin expenses | $16,250 |
| Benefits paid out | $15,717,488 |
| Net assets, start / end of year | $136.4M / $168.4M |
| Active participants, start / end of year | 6,495 / 8,740 |
| Participants with account balances | 4,415 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Tanner LLC |
| Employer stock held by plan | $7,405,810 |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $330,410 reported compensation |
| Global Retirement Partners LLC | $67,500 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250806110018NAL0002747473001, received 2025-08-06, EIN 87-0405300, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.