Weave Communications, Inc. 401(k) Review & Grade
Weave 401(k) Plan
Lehi, UTProfessional, Scientific & Technical Services744 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$4,663Employer $ per active participant
$6,979Employee $ saved per active participant
0.36%Direct admin cost, % of plan assets
$38.8MNet plan assets, end of year
$39,569Average balance per account
Score breakdown
- Employer generosity35.6 / 5071th percentile for employer $ per participant
- Low cost8.5 / 2534th percentile for low admin cost vs. same-size plans
- Employee saving5.3 / 1535th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score59 / 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 | 71th |
| Lower admin cost | 34th |
| Employee saving | 35th |
| Peers that auto-enroll | 48% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Weave Communications put in about $4,663 per active participant, more than the typical peer ($3,082). 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.
- Direct plan expenses (0.36% of assets) are well above similar-size plans (0.23%). 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 | $3,469,061 |
| Participant (employee) contributions | $5,192,243 |
| Other contributions (incl. rollovers in) | $672,697 |
| Administrative expenses paid from the plan | $120,271 |
| Investment advisory & management fees | $72,378 |
| Benefits paid out | $2,961,345 |
| Net assets, start / end of year | $27.9M / $38.8M |
| Active participants, start / end of year | 756 / 732 |
| Participants with account balances | 980 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Forvis Mazars, LLP |
Largest service providers (Schedule C)
| Onedigital Investment Advisors LLC | $50,578 reported compensation |
| Empower Annuity Insurance Company | $47,893 reported compensation |
| Resources Investment Advisors, LLC | $21,800 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251007164119NAL0002830099001, received 2025-10-07, EIN 26-3302902, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.