Ameriprise Financial, Inc. 401(k) Review & Grade
Ameriprise Financial 401(k) Plan
Minneapolis, MNFinance & Insurance9,126 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$7,461Employer $ per active participant
$14,648Employee $ saved per active participant
0.05%Direct admin cost, % of plan assets
$3.6BNet plan assets, end of year
$304,855Average balance per account
Score breakdown
- Employer generosity39.6 / 5079th percentile for employer $ per participant
- Low cost20.0 / 2580th percentile for low admin cost vs. same-size plans
- Employee saving13.6 / 1591th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score76 / 100 · Grade A
This plan vs. peers
Peers: Finance & Insurance plans with 2,500–9,999 active participants (199 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 79th |
| Lower admin cost | 80th |
| Employee saving | 91th |
| Peers that auto-enroll | 66% |
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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
- Ameriprise Financial put in about $7,461 per active participant, more than the typical peer ($4,489). 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 | $68,094,662 |
| Participant (employee) contributions | $133,685,236 |
| Other contributions (incl. rollovers in) | $12,968,580 |
| Administrative expenses paid from the plan | $1,569,303 |
| Contract administrator fees | $1,059,840 |
| Investment advisory & management fees | $509,463 |
| Benefits paid out | $350,659,169 |
| Net assets, start / end of year | $3.2B / $3.6B |
| Active participants, start / end of year | 9,295 / 8,958 |
| Participants with account balances | 11,868 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Pricewaterhousecoopers |
| Employer stock held by plan | $514,577,622 |
Largest service providers (Schedule C)
| Alight Solutions LLC | $724,782 reported compensation |
| Congress Asset Management | $525,017 reported compensation |
| Pershing LLC | $485,108 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250710101125NAL0005405713001, received 2025-07-10, EIN 13-3180631, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.