Equity Residential 401(k) Review & Grade
Equity Residential Advantage Retirement Savings Plan
Chicago, ILReal Estate & Rental2,264 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,389Employer $ per active participant
$6,155Employee $ saved per active participant
0.04%Direct admin cost, % of plan assets
$326.5MNet plan assets, end of year
$92,185Average balance per account
Score breakdown
- Employer generosity37.6 / 5075th percentile for employer $ per participant
- Low cost22.5 / 2590th percentile for low admin cost vs. same-size plans
- Employee saving11.6 / 1578th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score72 / 100 · Grade B
This plan vs. peers
Peers: Real Estate & Rental plans with 500–2,499 active participants (291 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 75th |
| Lower admin cost | 90th |
| Employee saving | 78th |
| Peers that auto-enroll | 47% |
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
Late deposits: the filing says some employee contributions were not sent to the plan on time ($829 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- Equity Residential put in about $2,389 per active participant, more than the typical peer ($1,279). 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.
- The plan reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- 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 | $5,408,563 |
| Participant (employee) contributions | $13,931,875 |
| Other contributions (incl. rollovers in) | $1,367,957 |
| Administrative expenses paid from the plan | $127,105 |
| Contract administrator fees | $127,105 |
| Benefits paid out | $32,031,381 |
| Net assets, start / end of year | $294.5M / $326.5M |
| Active participants, start / end of year | 2,204 / 2,323 |
| Participants with account balances | 3,542 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Ernst & Young LLP |
| Employer stock held by plan | $8,765,819 |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $127,102 reported compensation |
| Morningstar Investment Management L | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251003102456NAL0000788275001, received 2025-10-03, EIN 13-3675988, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.