Klaviyo, Inc. 401(k) Review & Grade
Klaviyo, Inc. 401(k) Plan
Boston, MAProfessional, Scientific & Technical Services1,592 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$6,426Employer $ per active participant
$14,101Employee $ saved per active participant
0.18%Direct admin cost, % of plan assets
$119.5MNet plan assets, end of year
$59,367Average balance per account
Score breakdown
- Employer generosity40.7 / 5081th percentile for employer $ per participant
- Low cost14.4 / 2557th percentile for low admin cost vs. same-size plans
- Employee saving12.8 / 1585th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score65 / 100 · Grade B
This plan vs. peers
Peers: Professional, Scientific & Technical Services plans with 500–2,499 active participants (1,469 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 81th |
| Lower admin cost | 57th |
| Employee saving | 85th |
| Peers that auto-enroll | 48% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($365,757 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $40,132 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Klaviyo put in about $6,426 per active participant, more than the typical peer ($3,082). 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 | $10,230,370 |
| Participant (employee) contributions | $22,448,082 |
| Other contributions (incl. rollovers in) | $9,564,237 |
| Administrative expenses paid from the plan | $176,442 |
| Contract administrator fees | $161,743 |
| Other admin expenses | $14,699 |
| Benefits paid out | $9,916,303 |
| Net assets, start / end of year | $75.3M / $119.5M |
| Active participants, start / end of year | 1,461 / 1,723 |
| Participants with account balances | 2,013 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Baker Tilly US LLP |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $176,441 reported compensation |
| The Hilb Group of New England, LLC | $22,073 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015121700NAL0006225200001, received 2025-10-15, EIN 46-0989964, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.