Intuit Inc. 401(k) Review & Grade
Intuit Inc. 401(k) Plan
Mountain View, CAManufacturing22,418 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$5,480Employer $ per active participant
$10,033Employee $ saved per active participant
0.01%Direct admin cost, % of plan assets
$3.7BNet plan assets, end of year
$111,046Average balance per account
Score breakdown
- Employer generosity25.0 / 5050th percentile for employer $ per participant
- Low cost24.2 / 2597th percentile for low admin cost vs. same-size plans
- Employee saving9.2 / 1561th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score65 / 100 · Grade B
This plan vs. peers
Peers: Manufacturing plans with 10,000+ active participants (151 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 50th |
| Lower admin cost | 97th |
| Employee saving | 61th |
| Peers that auto-enroll | 69% |
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Red flags from the filing
Corrective distributions: the plan refunded $48,942 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Intuit put in about $5,480 per active participant, more than the typical peer ($5,480). 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 | $122,847,147 |
| Participant (employee) contributions | $224,918,615 |
| Other contributions (incl. rollovers in) | $42,001,640 |
| Administrative expenses paid from the plan | $226,512 |
| Other admin expenses | $5,100 |
| Benefits paid out | $322,158,512 |
| Net assets, start / end of year | $3.1B / $3.7B |
| Active participants, start / end of year | 20,635 / 24,200 |
| Participants with account balances | 33,168 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Hogantaylor LLP |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company | $129,200 reported compensation |
| Morningstar Investment Service | $58,450 reported compensation |
| Fortune Wealth Management LLC | $27,764 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014203454NAL0007416482001, received 2025-10-14, EIN 77-0034661, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.