Shutterfly, LLC 401(k) Review & Grade
Shutterfly, LLC 401(k) Plan
San Jose, CAOther Services5,720 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,685Employer $ per active participant
$4,081Employee $ saved per active participant
0.09%Direct admin cost, % of plan assets
$380.2MNet plan assets, end of year
$66,259Average balance per account
Score breakdown
- Employer generosity31.7 / 5063th percentile for employer $ per participant
- Low cost15.0 / 2560th percentile for low admin cost vs. same-size plans
- Employee saving10.6 / 1571th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score57 / 100 · Grade C
This plan vs. peers
Peers: Other Services plans with 2,500–9,999 active participants (42 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 63th |
| Lower admin cost | 60th |
| Employee saving | 71th |
| Peers that auto-enroll | 45% |
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Red flags from the filing
Corrective distributions: the plan refunded $1,859 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Shutterfly put in about $1,685 per active participant, more than the typical peer ($1,132). 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 | $9,639,617 |
| Participant (employee) contributions | $23,345,392 |
| Other contributions (incl. rollovers in) | $4,021,418 |
| Administrative expenses paid from the plan | $332,547 |
| Investment advisory & management fees | $74,915 |
| Benefits paid out | $49,898,450 |
| Net assets, start / end of year | $343.2M / $380.2M |
| Active participants, start / end of year | 5,952 / 5,488 |
| Participants with account balances | 5,738 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Holthouse Carlin & Van Trigt LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $260,752 reported compensation |
| Newfront Retirement Services Inc | $74,915 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251204163126NAL0002140497001, received 2025-12-04, EIN 94-3330068, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.