Tesla, Inc. 401(k) Review & Grade
Tesla, Inc. 401(k) Plan
Austin, TXManufacturing76,602 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,382Employer $ per active participant
$4,712Employee $ saved per active participant
0.16%Direct admin cost, % of plan assets
$2.5BNet plan assets, end of year
$36,149Average balance per account
Score breakdown
- Employer generosity6.0 / 5012th percentile for employer $ per participant
- Low cost6.5 / 2526th percentile for low admin cost vs. same-size plans
- Employee saving2.5 / 1517th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score12 / 100 · Grade F
This plan vs. peers
Peers: Manufacturing plans with 10,000+ active participants (151 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 12th |
| Lower admin cost | 26th |
| Employee saving | 17th |
| Peers that auto-enroll | 69% |
Get the monthly 401(k) report card
The best and worst plans, new grades as filings post. One email a month, no spam.
Red flags from the filing
Benefits not paid when due: the plan reported failing to pay some benefits on time.
Corrective distributions: the plan refunded $68,401 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Tesla put in about $1,382 per active participant, below the typical peer ($5,480). 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.
- Direct plan expenses (0.16% of assets) are well above similar-size plans (0.09%). Check your annual fee disclosure, choose low-cost index funds if you can, and think about whether savings beyond the match belong in an IRA.
- 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 | $105,870,589 |
| Participant (employee) contributions | $360,969,076 |
| Other contributions (incl. rollovers in) | $46,672,033 |
| Administrative expenses paid from the plan | $3,459,149 |
| Contract administrator fees | $4,200 |
| Investment advisory & management fees | $290,307 |
| Other admin expenses | $236,443 |
| Benefits paid out | $257,751,300 |
| Net assets, start / end of year | $1.9B / $2.5B |
| Active participants, start / end of year | 80,827 / 72,376 |
| Participants with account balances | 68,149 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Silicon Valley Accountancy Corp. |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $2,892,134 reported compensation |
| Strategic Advisors, Inc. | $290,307 reported compensation |
| Sageview Advisory Group LLC | $236,443 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250905110013NAL0028770256001, received 2025-09-05, EIN 91-2197729, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.