Redfin Corporation 401(k) Review & Grade
Redfin 401(k) Profit Sharing Plan
Seattle, WAReal Estate & Rental3,410 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,843Employer $ per active participant
$8,337Employee $ saved per active participant
0.20%Direct admin cost, % of plan assets
$223.2MNet plan assets, end of year
$43,539Average balance per account
Score breakdown
- Employer generosity36.7 / 5073th percentile for employer $ per participant
- Low cost8.6 / 2534th percentile for low admin cost vs. same-size plans
- Employee saving13.2 / 1588th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score59 / 100 · Grade C
This plan vs. peers
Peers: Real Estate & Rental plans with 2,500–9,999 active participants (50 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 73th |
| Lower admin cost | 34th |
| Employee saving | 88th |
| Peers that auto-enroll | 46% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($1,140,111 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- Redfin put in about $1,843 per active participant, more than the typical peer ($1,141). 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 (0.20% 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.
- The plan reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- 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 | $6,285,236 |
| Participant (employee) contributions | $28,424,169 |
| Other contributions (incl. rollovers in) | $1,055,818 |
| Administrative expenses paid from the plan | $408,836 |
| Investment advisory & management fees | $45,000 |
| Benefits paid out | $20,191,800 |
| Net assets, start / end of year | $180.7M / $223.2M |
| Active participants, start / end of year | 3,313 / 3,506 |
| Participants with account balances | 5,127 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Baker Tilly US, LLP |
Largest service providers (Schedule C)
| Transamerica Retirement Solutions | $363,836 reported compensation |
| Gallagher Fiduciary Advisors, LLC | $45,000 reported compensation |
| National Financial Services | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250930121845NAL0011650673002, received 2025-09-30, EIN 74-3064240, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.