Snap Inc. 401(k) Review & Grade
Snap Inc. 401(k) Retirement Savings Plan
Santa Monica, CAProfessional, Scientific & Technical Services3,676 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$8,240Employer $ per active participant
$22,429Employee $ saved per active participant
0.01%Direct admin cost, % of plan assets
$779.8MNet plan assets, end of year
$131,916Average balance per account
Score breakdown
- Employer generosity44.6 / 5089th percentile for employer $ per participant
- Low cost24.2 / 2597th percentile for low admin cost vs. same-size plans
- Employee saving14.8 / 1599th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score91 / 100 · Grade A
This plan vs. peers
Peers: Professional, Scientific & Technical Services plans with 2,500–9,999 active participants (231 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 89th |
| Lower admin cost | 97th |
| Employee saving | 99th |
| Peers that auto-enroll | 47% |
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Red flags from the filing
Corrective distributions: the plan refunded $108,181 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Snap put in about $8,240 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 | $30,285,591 |
| Participant (employee) contributions | $82,438,778 |
| Other contributions (incl. rollovers in) | $23,015,659 |
| Administrative expenses paid from the plan | $82,765 |
| Contract administrator fees | $2,400 |
| Investment advisory & management fees | $207,271 |
| Benefits paid out | $78,777,916 |
| Net assets, start / end of year | $614.8M / $779.8M |
| Active participants, start / end of year | 3,832 / 3,519 |
| Participants with account balances | 5,911 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Holthouse Carlin & Van Trigt LLP |
Largest service providers (Schedule C)
| Strategic Advisors, Inc. | $207,271 reported compensation |
| Fidelity Investments Institutional | −$123,235 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250926140656NAL0009473249001, received 2025-09-26, EIN 45-5452795, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.