Nextdoor, Inc. 401(k) Review & Grade
Nextdoor, Inc. 401(k) Plan
San Francisco, CAProfessional, Scientific & Technical Services503 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,725Employer $ per active participant
$18,176Employee $ saved per active participant
0.05%Direct admin cost, % of plan assets
$62.1MNet plan assets, end of year
$70,204Average balance per account
Score breakdown
- Employer generosity22.4 / 5045th percentile for employer $ per participant
- Low cost21.5 / 2586th 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-13 pts2 issues reported on the filing
Total score55 / 100 · Grade C
This plan vs. peers
Peers: Professional, Scientific & Technical Services plans with 500–2,499 active participants (1,469 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 45th |
| Lower admin cost | 86th |
| Employee saving | 97th |
| Peers that auto-enroll | 48% |
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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 ($4,522,033 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $4,915 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Nextdoor put in about $2,725 per active participant, below the typical peer ($3,082). 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.
- 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 | $1,370,720 |
| Participant (employee) contributions | $9,142,326 |
| Other contributions (incl. rollovers in) | $1,350,342 |
| Administrative expenses paid from the plan | $30,411 |
| Benefits paid out | $7,502,994 |
| Net assets, start / end of year | $49.4M / $62.1M |
| Active participants, start / end of year | 499 / 507 |
| Participants with account balances | 885 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Sensiba LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $30,424 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251001104306NAL0005879251001, received 2025-10-01, EIN 75-3263336, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.