Mckinsey & Company, Inc. 401(k) Review & Grade
Mckinsey & Company, Inc. (psrp) Profit Sharing Retirement Plan
New York, NYProfessional, Scientific & Technical Services16,214 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$5,733Employer $ per active participant
$15,927Employee $ saved per active participant
0.02%Direct admin cost, % of plan assets
$9.8BNet plan assets, end of year
$281,694Average balance per account
Score breakdown
- Employer generosity44.2 / 5088th percentile for employer $ per participant
- Low cost22.8 / 2591th percentile for low admin cost vs. same-size plans
- Employee saving13.9 / 1593th percentile for employee $ per participant
- Plan features0 / 10No auto-enrollment or default investment reported
- Red-flag deductions-3 pts1 issue reported on the filing
Total score78 / 100 · Grade A
This plan vs. peers
Peers: Professional, Scientific & Technical Services plans with 10,000+ active participants (70 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 88th |
| Lower admin cost | 91th |
| Employee saving | 93th |
| Peers that auto-enroll | 39% |
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Red flags from the filing
Corrective distributions: the plan refunded $423,552 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Mckinsey & Company put in about $5,733 per active participant, more than the typical peer ($2,932). 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 | $92,962,464 |
| Participant (employee) contributions | $258,250,623 |
| Other contributions (incl. rollovers in) | $47,605,625 |
| Administrative expenses paid from the plan | $1,900,982 |
| Contract administrator fees | $988,475 |
| Investment advisory & management fees | $187,367 |
| Other admin expenses | −$91,229 |
| Benefits paid out | $589,423,194 |
| Net assets, start / end of year | $9.1B / $9.8B |
| Active participants, start / end of year | 17,700 / 14,729 |
| Participants with account balances | 34,826 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Grant Thornton LLP |
Largest service providers (Schedule C)
| Alight Solutions LLC | $988,475 reported compensation |
| Mckinsey & Company, Inc. | $506,490 reported compensation |
| Meketa Investment Group | $187,367 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251010153705NAL0013434224001, received 2025-10-10, EIN 13-1826332, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.