Joby Aero, Inc. 401(k) Review & Grade
Joby Aero, Inc. 401(k) Plan
Santa Cruz, CATransportation & Warehousing1,459 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,995Employer $ per active participant
$12,237Employee $ saved per active participant
0.02%Direct admin cost, % of plan assets
$98.7MNet plan assets, end of year
$71,296Average balance per account
Score breakdown
- Employer generosity42.3 / 5085th percentile for employer $ per participant
- Low cost23.6 / 2594th percentile for low admin cost vs. same-size plans
- Employee saving14.6 / 1597th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score81 / 100 · Grade A
This plan vs. peers
Peers: Transportation & Warehousing plans with 500–2,499 active participants (392 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 85th |
| Lower admin cost | 94th |
| Employee saving | 97th |
| Peers that auto-enroll | 37% |
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Red flags from the filing
Corrective distributions: the plan refunded $19,055 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Joby Aero put in about $2,995 per active participant, more than the typical peer ($1,070). 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 | $4,369,476 |
| Participant (employee) contributions | $17,854,064 |
| Other contributions (incl. rollovers in) | $5,470,685 |
| Administrative expenses paid from the plan | $19,301 |
| Investment advisory & management fees | $11,005 |
| Benefits paid out | $4,470,143 |
| Net assets, start / end of year | $64.1M / $98.7M |
| Active participants, start / end of year | 1,271 / 1,647 |
| Participants with account balances | 1,385 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Pension Assurance LLP |
Largest service providers (Schedule C)
| Strategic Advisors, Inc. | $11,005 reported compensation |
| Fidelity Investments Institutional | $8,296 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250731214428NAL0002887075001, received 2025-07-31, EIN 81-4458866, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.