Simon Property Group, L.P. 401(k) Review & Grade
Simon Property Group and Adopting Entities Matching Savings Plan
Indianapolis, INReal Estate & Rental3,348 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$3,828Employer $ per active participant
$6,893Employee $ saved per active participant
0.20%Direct admin cost, % of plan assets
$597.6MNet plan assets, end of year
$156,001Average balance per account
Score breakdown
- Employer generosity44.9 / 5090th percentile for employer $ per participant
- Low cost8.5 / 2534th percentile for low admin cost vs. same-size plans
- Employee saving11.3 / 1576th percentile for employee $ per participant
- Plan features0 / 10No auto-enrollment or default investment reported
- Red-flag deductions-3 pts1 issue reported on the filing
Total score62 / 100 · Grade B
This plan vs. peers
Peers: Real Estate & Rental plans with 2,500–9,999 active participants (50 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 90th |
| Lower admin cost | 34th |
| Employee saving | 76th |
| Peers that auto-enroll | 46% |
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Red flags from the filing
Corrective distributions: the plan refunded $5,047 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Simon Property Group, L.P. put in about $3,828 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.
- 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 | $12,818,474 |
| Participant (employee) contributions | $23,081,121 |
| Other contributions (incl. rollovers in) | $1,356,220 |
| Administrative expenses paid from the plan | $1,161,331 |
| Contract administrator fees | $300 |
| Investment advisory & management fees | $163,702 |
| Other admin expenses | $265,720 |
| Benefits paid out | $62,453,857 |
| Net assets, start / end of year | $542.9M / $597.6M |
| Active participants, start / end of year | 3,474 / 3,223 |
| Participants with account balances | 3,831 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Ernst & Young LLP |
| Employer stock held by plan | $33,957,609 |
Largest service providers (Schedule C)
| Merrill Lynch | $365,117 reported compensation |
| Fidelity Investments Institutional | $303,309 reported compensation |
| Mercer Investments LLC | $267,024 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250716115131NAL0003096353001, received 2025-07-16, EIN 34-1755769, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.