Skadden Arps Slate Meagher & Flom, LLP 401(k) Review & Grade
Skadden Arps Slate Meagher & Flom Savings Plan
New York, NYProfessional, Scientific & Technical Services2,922 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$5,637Employer $ per active participant
$15,397Employee $ saved per active participant
0.01%Direct admin cost, % of plan assets
$1.5BNet plan assets, end of year
$318,255Average balance per account
Score breakdown
- Employer generosity40.0 / 5080th percentile for employer $ per participant
- Low cost24.1 / 2596th percentile for low admin cost vs. same-size plans
- Employee saving12.7 / 1584th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score87 / 100 · Grade A
This plan vs. peers
Peers: Professional, Scientific & Technical Services plans with 2,500–9,999 active participants (231 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 80th |
| Lower admin cost | 96th |
| Employee saving | 84th |
| Peers that auto-enroll | 47% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Skadden Arps Slate Meagher & Flom, LLP put in about $5,637 per active participant, more than the typical peer ($2,951). 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 | $16,473,756 |
| Participant (employee) contributions | $44,998,054 |
| Other contributions (incl. rollovers in) | $10,242,303 |
| Administrative expenses paid from the plan | $194,849 |
| Benefits paid out | $118,842,483 |
| Net assets, start / end of year | $1.3B / $1.5B |
| Active participants, start / end of year | 2,888 / 2,957 |
| Participants with account balances | 4,608 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Crowe LLP |
Largest service providers (Schedule C)
| Empower Life & Annuity Insurance Co | $194,849 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015210731NAL0003008051001, received 2025-10-15, EIN 13-1777230, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.