Skidmore, Owings & Merrill LLP 401(k) Review & Grade
Skidmore, Owings & Merrill LLP 401(k) Savings Plan
Chicago, ILProfessional, Scientific & Technical Services874 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,940Employer $ per active participant
$10,278Employee $ saved per active participant
0.12%Direct admin cost, % of plan assets
$286.0MNet plan assets, end of year
$140,331Average balance per account
Score breakdown
- Employer generosity23.9 / 5048th percentile for employer $ per participant
- Low cost17.2 / 2569th 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 score57 / 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 | 48th |
| Lower admin cost | 69th |
| Employee saving | 61th |
| Peers that auto-enroll | 48% |
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Red flags from the filing
Corrective distributions: the plan refunded $3,999 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Skidmore, Owings & Merrill LLP put in about $2,940 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.
- 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 | $2,571,370 |
| Participant (employee) contributions | $8,987,724 |
| Other contributions (incl. rollovers in) | $713,827 |
| Administrative expenses paid from the plan | $335,557 |
| Investment advisory & management fees | $114,857 |
| Other admin expenses | $423,882 |
| Benefits paid out | $22,913,630 |
| Net assets, start / end of year | $253.3M / $286.0M |
| Active participants, start / end of year | 912 / 837 |
| Participants with account balances | 2,038 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Fgmk |
| Employer stock held by plan | $8,904,369 |
Largest service providers (Schedule C)
| Fiducient Advisors | $83,870 reported compensation |
| Financial Engines | $71,125 reported compensation |
| Neuberger Berman | $44,192 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013102836NAL0000478883001, received 2025-10-13, EIN 36-1785381, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.