Geico Corporation 401(k) Review & Grade
Geico 401(k) Savings Plan
Washington, DCManagement of Companies29,425 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$4,284Employer $ per active participant
$7,122Employee $ saved per active participant
0.04%Direct admin cost, % of plan assets
$6.2BNet plan assets, end of year
$134,157Average balance per account
Score breakdown
- Employer generosity34.9 / 5070th percentile for employer $ per participant
- Low cost19.2 / 2577th percentile for low admin cost vs. same-size plans
- Employee saving9.8 / 1565th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score64 / 100 · Grade B
This plan vs. peers
Peers: all industries, plans with 10,000+ active participants (fewer than 30 industry peers) (820 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 70th |
| Lower admin cost | 77th |
| Employee saving | 65th |
| Peers that auto-enroll | 50% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($21,185,692 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- Geico put in about $4,284 per active participant, more than the typical peer ($2,229). 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.
- The plan reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- 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 | $126,048,432 |
| Participant (employee) contributions | $209,552,162 |
| Other contributions (incl. rollovers in) | $17,890,025 |
| Administrative expenses paid from the plan | $2,462,195 |
| Other admin expenses | $2,462,195 |
| Benefits paid out | $780,408,374 |
| Net assets, start / end of year | $5.8B / $6.2B |
| Active participants, start / end of year | 30,641 / 28,209 |
| Participants with account balances | 46,421 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Deloitte & Touche LLP |
| Employer stock held by plan | $805,170,982 |
Largest service providers (Schedule C)
| The Vanguard Group, Inc. | $1,998,242 reported compensation |
| Vanguard Advisers Inc. | $147,838 reported compensation |
| Capfinancial Partners LLC | $79,104 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250709085932NAL0003206963001, received 2025-07-09, EIN 52-1135801, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.