Raymond James Financial, Inc. 401(k) Review & Grade
Raymond James Financial, Inc. 401(k) Plan
ST Petersburg, FLFinance & Insurance15,812 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$902Employer $ per active participant
$12,856Employee $ saved per active participant
0.03%Direct admin cost, % of plan assets
$2.9BNet plan assets, end of year
$159,481Average balance per account
Score breakdown
- Employer generosity0.7 / 501th percentile for employer $ per participant
- Low cost21.6 / 2586th percentile for low admin cost vs. same-size plans
- Employee saving13.1 / 1587th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score42 / 100 · Grade D
This plan vs. peers
Peers: Finance & Insurance plans with 10,000+ active participants (72 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 1th |
| Lower admin cost | 86th |
| Employee saving | 87th |
| Peers that auto-enroll | 74% |
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Red flags from the filing
Corrective distributions: the plan refunded $199,350 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Raymond James Financial put in about $902 per active participant, below the typical peer ($5,179). 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.
- 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 | $14,263,686 |
| Participant (employee) contributions | $203,274,733 |
| Other contributions (incl. rollovers in) | $73,221,386 |
| Administrative expenses paid from the plan | $684,832 |
| Contract administrator fees | $684,832 |
| Benefits paid out | $217,751,951 |
| Net assets, start / end of year | $2.4B / $2.9B |
| Active participants, start / end of year | 15,535 / 16,088 |
| Participants with account balances | 18,022 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Crowe LLP |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $684,832 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250702203437NAL0000076929001, received 2025-07-02, EIN 59-1517485, plan #010, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.