Sequoia Benefits & Insurance Services, LLC DBA Sequoia Consulting Grou 401(k) Review & Grade
Sequoia Consulting Group 401(k) Plan
San Mateo, CAFinance & Insurance804 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$5,190Employer $ per active participant
$13,825Employee $ saved per active participant
0.07%Direct admin cost, % of plan assets
$115.5MNet plan assets, end of year
$114,781Average balance per account
Score breakdown
- Employer generosity34.2 / 5068th percentile for employer $ per participant
- Low cost20.6 / 2582th 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 score75 / 100 · Grade A
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 68th |
| Lower admin cost | 82th |
| Employee saving | 87th |
| Peers that auto-enroll | 62% |
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Red flags from the filing
Corrective distributions: the plan refunded $730 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Sequoia Benefits & Insurance Services, LLC DBA Sequoia Consulting Grou put in about $5,190 per active participant, more than the typical peer ($3,606). 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 | $4,170,444 |
| Participant (employee) contributions | $11,108,254 |
| Other contributions (incl. rollovers in) | $3,810,083 |
| Administrative expenses paid from the plan | $68,947 |
| Contract administrator fees | $1,500 |
| Benefits paid out | $8,092,754 |
| Net assets, start / end of year | $89.9M / $115.5M |
| Active participants, start / end of year | 786 / 821 |
| Participants with account balances | 1,006 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | BPM, LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $68,947 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250924101220NAL0009082611001, received 2025-09-24, EIN 94-3397213, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.