Paycor, Inc. 401(k) Review & Grade
Paycor 401(k) Plan
Cincinnati, OHProfessional, Scientific & Technical Services2,630 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3,301Employer $ per active participant
$7,818Employee $ saved per active participant
0.19%Direct admin cost, % of plan assets
$230.7MNet plan assets, end of year
$72,017Average balance per account
Score breakdown
- Employer generosity28.3 / 5057th percentile for employer $ per participant
- Low cost9.2 / 2537th percentile for low admin cost vs. same-size plans
- Employee saving6.3 / 1542th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score54 / 100 · Grade C
This plan vs. peers
Peers: Professional, Scientific & Technical Services plans with 2,500–9,999 active participants (231 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 57th |
| Lower admin cost | 37th |
| Employee saving | 42th |
| Peers that auto-enroll | 47% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Paycor put in about $3,301 per active participant, more than the typical peer ($2,951). 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.
- Direct plan expenses (0.19% of assets) are well above similar-size plans (0.12%). Check your annual fee disclosure, choose low-cost index funds if you can, and think about whether savings beyond the match belong in an IRA.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- 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 | $8,680,729 |
| Participant (employee) contributions | $20,557,643 |
| Other contributions (incl. rollovers in) | $4,520,280 |
| Administrative expenses paid from the plan | $398,118 |
| Investment advisory & management fees | $149,676 |
| Benefits paid out | $22,493,920 |
| Net assets, start / end of year | $190.7M / $230.7M |
| Active participants, start / end of year | 2,644 / 2,615 |
| Participants with account balances | 3,203 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Barnes Dennig |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company | $248,442 reported compensation |
| Empower Advisory Group, LLC | $117,676 reported compensation |
| Merrill Lynch Pierce Fenner & Smith | $32,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250731161721NAL0003241299001, received 2025-07-31, EIN 31-1299990, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.