Opendoor Labs Inc. 401(k) Review & Grade
Opendoor Labs Inc. 401(k) Profit Sharing Plan
Tempe, AZReal Estate & Rental1,411 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$656Employer $ per active participant
$7,985Employee $ saved per active participant
0.25%Direct admin cost, % of plan assets
$67.5MNet plan assets, end of year
$35,170Average balance per account
Score breakdown
- Employer generosity13.8 / 5028th percentile for employer $ per participant
- Low cost12.0 / 2548th percentile for low admin cost vs. same-size plans
- Employee saving13.2 / 1588th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score39 / 100 · Grade D
This plan vs. peers
Peers: Real Estate & Rental plans with 500–2,499 active participants (291 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 28th |
| Lower admin cost | 48th |
| Employee saving | 88th |
| Peers that auto-enroll | 47% |
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Red flags from the filing
Corrective distributions: the plan refunded $181,936 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Opendoor Labs put in about $656 per active participant, below the typical peer ($1,279). Any match is still an instant return, so contribute enough to get all of it.
- 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 | $925,625 |
| Participant (employee) contributions | $11,266,437 |
| Other contributions (incl. rollovers in) | $1,337,097 |
| Administrative expenses paid from the plan | $157,972 |
| Investment advisory & management fees | $21,228 |
| Other admin expenses | $21,095 |
| Benefits paid out | $16,355,332 |
| Net assets, start / end of year | $61.3M / $67.5M |
| Active participants, start / end of year | 1,692 / 1,130 |
| Participants with account balances | 1,918 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Baker Tilly US, LLP |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company O | $136,744 reported compensation |
| Sageview Advisory Group, LLC | $21,228 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251029170506NAL0000596931001, received 2025-10-29, EIN 46-4975399, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.