Procore Technologies, Inc. 401(k) Review & Grade
Procore Technologies Retirement Plan
Carpinteria, CAProfessional, Scientific & Technical Services3,210 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$4,133Employer $ per active participant
$13,038Employee $ saved per active participant
0.07%Direct admin cost, % of plan assets
$345.2MNet plan assets, end of year
$78,931Average balance per account
Score breakdown
- Employer generosity33.3 / 5067th percentile for employer $ per participant
- Low cost17.5 / 2570th percentile for low admin cost vs. same-size plans
- Employee saving11.3 / 1575th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score69 / 100 · Grade B
This plan vs. peers
Peers: Professional, Scientific & Technical Services plans with 2,500–9,999 active participants (231 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 67th |
| Lower admin cost | 70th |
| Employee saving | 75th |
| Peers that auto-enroll | 47% |
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Red flags from the filing
Corrective distributions: the plan refunded $7,281 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Procore Technologies put in about $4,133 per active participant, more than the typical peer ($2,951). 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 | $13,266,277 |
| Participant (employee) contributions | $41,852,658 |
| Other contributions (incl. rollovers in) | $13,424,264 |
| Administrative expenses paid from the plan | $198,283 |
| Contract administrator fees | $2,100 |
| Other admin expenses | $117,917 |
| Benefits paid out | $28,255,378 |
| Net assets, start / end of year | $259.0M / $345.2M |
| Active participants, start / end of year | 3,164 / 3,256 |
| Participants with account balances | 4,374 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Bdo USA, P.C. |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $80,366 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251008165728NAL0013901778001, received 2025-10-08, EIN 73-1636261, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.