Soho House, LLC 401(k) Review & Grade
Soho House LLC 401(k) Plan
Chicago, ILAccommodation & Food Services4,070 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$187Employer $ per active participant
$660Employee $ saved per active participant
1.20%Direct admin cost, % of plan assets
$15.4MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity22.8 / 5046th percentile for employer $ per participant
- Low cost0.8 / 253th percentile for low admin cost vs. same-size plans
- Employee saving7.4 / 1550th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-5 pts1 issue reported on the filing
Total score29 / 100 · Grade F
This plan vs. peers
Peers: Accommodation & Food Services plans with 2,500–9,999 active participants (104 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 46th |
| Lower admin cost | 3th |
| Employee saving | 50th |
| Peers that auto-enroll | 15% |
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Red flags from the filing
No fidelity bond: the plan reported it was not covered by a fidelity bond, which protects participants against theft.
What to do if you're in this plan
- Soho House put in about $187 per active participant, below the typical peer ($244). 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.
- Direct plan expenses (1.20% 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 | $761,462 |
| Participant (employee) contributions | $2,688,437 |
| Other contributions (incl. rollovers in) | $570,038 |
| Administrative expenses paid from the plan | $165,411 |
| Contract administrator fees | $38,231 |
| Investment advisory & management fees | $127,180 |
| Benefits paid out | $2,323,615 |
| Net assets, start / end of year | $12.1M / $15.4M |
| Active participants, start / end of year | 4,058 / 4,083 |
| Participants with account balances | 614 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Lutz, Selig & Zeronda, Cpas, LLP |
Largest service providers (Schedule C)
| Morgan Stanley Global Ba | $127,183 reported compensation |
| Principal Life Insurance Company | $38,228 reported compensation |
| Wilshire Advisors LLC | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251010103140NAL0007523729001, received 2025-10-10, EIN 13-4195862, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.