Fig LLC 401(k) Review & Grade
Fig LLC 401(k) Profit Sharing Plan & Trust
New York, NYFinance & Insurance758 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$7,137Employer $ per active participant
$23,872Employee $ saved per active participant
0.07%Direct admin cost, % of plan assets
$393.8MNet plan assets, end of year
$309,798Average balance per account
Score breakdown
- Employer generosity42.2 / 5084th percentile for employer $ per participant
- Low cost20.4 / 2582th percentile for low admin cost vs. same-size plans
- Employee saving14.8 / 1599th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score77 / 100 · Grade A
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 84th |
| Lower admin cost | 82th |
| Employee saving | 99th |
| Peers that auto-enroll | 62% |
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Red flags from the filing
Corrective distributions: the plan refunded $476 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Fig put in about $7,137 per active participant, more than the typical peer ($3,606). 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 | $5,406,625 |
| Participant (employee) contributions | $18,082,866 |
| Other contributions (incl. rollovers in) | $3,090,403 |
| Administrative expenses paid from the plan | $251,788 |
| Contract administrator fees | $600 |
| Investment advisory & management fees | $95,232 |
| Other admin expenses | $125,708 |
| Benefits paid out | $25,616,402 |
| Net assets, start / end of year | $331.7M / $393.8M |
| Active participants, start / end of year | 758 / 757 |
| Participants with account balances | 1,271 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Deloitte & Touche LLP |
Largest service providers (Schedule C)
| Fiducient Advisors LLC | $95,300 reported compensation |
| Strategic Advisors, Inc. | $95,232 reported compensation |
| Fidelity Investments Institutional | $30,948 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250926105109NAL0010778656001, received 2025-09-26, EIN 13-3989886, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.