Green Dot Corporation 401(k) Review & Grade
Green Dot Corporation 401(k) Retirement Savings Plan
Cincinnati, OHWholesale Trade878 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$3,042Employer $ per active participant
$10,380Employee $ saved per active participant
0.08%Direct admin cost, % of plan assets
$134.7MNet plan assets, end of year
$101,399Average balance per account
Score breakdown
- Employer generosity37.3 / 5075th percentile for employer $ per participant
- Low cost19.7 / 2579th percentile for low admin cost vs. same-size plans
- Employee saving14.2 / 1595th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score61 / 100 · Grade B
This plan vs. peers
Peers: Wholesale Trade plans with 500–2,499 active participants (603 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 75th |
| Lower admin cost | 79th |
| Employee saving | 95th |
| Peers that auto-enroll | 53% |
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
Benefits not paid when due: the plan reported failing to pay some benefits on time.
Corrective distributions: the plan refunded $1,416 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Green Dot put in about $3,042 per active participant, more than the typical peer ($1,792). 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 | $2,672,208 |
| Participant (employee) contributions | $9,118,749 |
| Other contributions (incl. rollovers in) | $1,644,481 |
| Administrative expenses paid from the plan | $102,152 |
| Benefits paid out | $12,081,518 |
| Net assets, start / end of year | $115.9M / $134.7M |
| Active participants, start / end of year | 878 / 879 |
| Participants with account balances | 1,328 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Baker Tilly US, LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $102,152 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015142912NAL0009735730001, received 2025-10-15, EIN 95-4766827, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.