Cboe Services Co. 401(k) Review & Grade
Cboe Global Markets Smart Plan
Chicago, ILFinance & Insurance1,134 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$14,205Employer $ per active participant
$15,789Employee $ saved per active participant
0.03%Direct admin cost, % of plan assets
$509.1MNet plan assets, end of year
$315,606Average balance per account
Score breakdown
- Employer generosity48.7 / 5097th percentile for employer $ per participant
- Low cost23.2 / 2593th percentile for low admin cost vs. same-size plans
- Employee saving13.7 / 1592th percentile for employee $ per participant
- Plan features0 / 10No auto-enrollment or default investment reported
- Red-flag deductions-13 pts2 issues reported on the filing
Total score73 / 100 · Grade B
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 97th |
| Lower admin cost | 93th |
| Employee saving | 92th |
| Peers that auto-enroll | 62% |
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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 $12,799 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Cboe Services put in about $14,205 per active participant, more than the typical peer ($3,606). 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 | $16,108,224 |
| Participant (employee) contributions | $17,905,160 |
| Other contributions (incl. rollovers in) | $4,163,790 |
| Administrative expenses paid from the plan | $143,331 |
| Contract administrator fees | $300 |
| Other admin expenses | $93,838 |
| Benefits paid out | $37,304,575 |
| Net assets, start / end of year | $430.9M / $509.1M |
| Active participants, start / end of year | 1,143 / 1,125 |
| Participants with account balances | 1,613 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Caron & Bletzer, PLLC |
Largest service providers (Schedule C)
| Mercer Investments, LLC | $71,250 reported compensation |
| Fidelity Investments Institutional | $43,742 reported compensation |
| Caron & Bletzer, PLLC | $12,750 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250910100045NAL0021063425001, received 2025-09-10, EIN 11-3817385, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.