Pure Storage, Inc. 401(k) Review & Grade
Pure Storage, Inc. 401(k) Plan
Santa Clara, CAManufacturing3,505 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3,925Employer $ per active participant
$21,376Employee $ saved per active participant
0.04%Direct admin cost, % of plan assets
$581.3MNet plan assets, end of year
$129,402Average balance per account
Score breakdown
- Employer generosity28.8 / 5058th percentile for employer $ per participant
- Low cost20.4 / 2582th percentile for low admin cost vs. same-size plans
- Employee saving14.9 / 1599th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score71 / 100 · Grade B
This plan vs. peers
Peers: Manufacturing plans with 2,500–9,999 active participants (566 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 58th |
| Lower admin cost | 82th |
| Employee saving | 99th |
| Peers that auto-enroll | 70% |
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Red flags from the filing
Corrective distributions: the plan refunded $77,111 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Pure Storage put in about $3,925 per active participant, more than the typical peer ($3,452). 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.
- 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 | $13,758,793 |
| Participant (employee) contributions | $74,923,400 |
| Other contributions (incl. rollovers in) | $19,713,755 |
| Administrative expenses paid from the plan | $222,129 |
| Benefits paid out | $48,315,491 |
| Net assets, start / end of year | $446.9M / $581.3M |
| Active participants, start / end of year | 3,453 / 3,557 |
| Participants with account balances | 4,492 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Silicon Valley Accountancy Corp |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $222,129 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251003135526NAL0003559570001, received 2025-10-03, EIN 27-1069557, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.