Essex Portfolio L.P. 401(k) Review & Grade
Essex Portfolio L.P. 401(k) Plan
San Mateo, CAReal Estate & Rental1,708 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,054Employer $ per active participant
$5,345Employee $ saved per active participant
0.21%Direct admin cost, % of plan assets
$138.2MNet plan assets, end of year
$56,585Average balance per account
Score breakdown
- Employer generosity35.2 / 5070th percentile for employer $ per participant
- Low cost13.2 / 2553th percentile for low admin cost vs. same-size plans
- Employee saving10.5 / 1570th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score59 / 100 · Grade C
This plan vs. peers
Peers: Real Estate & Rental plans with 500–2,499 active participants (291 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 70th |
| Lower admin cost | 53th |
| Employee saving | 70th |
| Peers that auto-enroll | 47% |
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Red flags from the filing
Benefits not paid when due: the plan reported failing to pay some benefits on time.
What to do if you're in this plan
- Essex Portfolio L.P. put in about $2,054 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.
- 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 | $3,506,815 |
| Participant (employee) contributions | $9,126,900 |
| Other contributions (incl. rollovers in) | $810,896 |
| Administrative expenses paid from the plan | $270,309 |
| Investment advisory & management fees | $48,139 |
| Other admin expenses | −$11,200 |
| Benefits paid out | $13,834,608 |
| Net assets, start / end of year | $121.0M / $138.2M |
| Active participants, start / end of year | 1,695 / 1,720 |
| Participants with account balances | 2,442 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Mun Cpas, LLP |
| Employer stock held by plan | $2,909,817 |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $190,770 reported compensation |
| Concurrent Investment Advisors LLC | $36,000 reported compensation |
| Mun Cpas, LLP | $31,400 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250715131151NAL0004762818001, received 2025-07-15, EIN 77-0369575, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.