Netflix, Inc. 401(k) Review & Grade
Netflix 401(k) Plan
Los Gatos, CAInformation8,298 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$10,127Employer $ per active participant
$25,329Employee $ saved per active participant
0.02%Direct admin cost, % of plan assets
$2.3BNet plan assets, end of year
$205,981Average balance per account
Score breakdown
- Employer generosity49.2 / 5098th percentile for employer $ per participant
- Low cost23.7 / 2595th percentile for low admin cost vs. same-size plans
- Employee saving14.7 / 1598th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score88 / 100 · Grade A
This plan vs. peers
Peers: Information plans with 2,500–9,999 active participants (60 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 98th |
| Lower admin cost | 95th |
| Employee saving | 98th |
| Peers that auto-enroll | 63% |
Red flags from the filing
Corrective distributions: the plan refunded $42,836 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Netflix put in about $10,127 per active participant, more than the typical peer ($3,691). 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 | $84,027,461 |
| Participant (employee) contributions | $210,168,970 |
| Other contributions (incl. rollovers in) | $59,077,219 |
| Administrative expenses paid from the plan | $377,214 |
| Contract administrator fees | $1,500 |
| Investment advisory & management fees | $121,990 |
| Other admin expenses | $57,105 |
| Benefits paid out | $126,037,682 |
| Net assets, start / end of year | $1.8B / $2.3B |
| Active participants, start / end of year | 7,815 / 8,780 |
| Participants with account balances | 11,401 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Cliftonlarsonallen LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $205,887 reported compensation |
| Strategic Advisors, Inc. | $121,990 reported compensation |
| Mercer Investments LLC | $56,210 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250915135311NAL0001435840001, received 2025-09-15, EIN 77-0467272, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.
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