State Street Corporation 401(k) Review & Grade
State Street Salary Savings Program
Boston, MAManagement of Companies12,384 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$7,978Employer $ per active participant
$13,171Employee $ saved per active participant
0.04%Direct admin cost, % of plan assets
$6.5BNet plan assets, end of year
$307,139Average balance per account
Score breakdown
- Employer generosity44.7 / 5089th percentile for employer $ per participant
- Low cost18.8 / 2575th percentile for low admin cost vs. same-size plans
- Employee saving13.5 / 1590th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score70 / 100 · Grade B
This plan vs. peers
Peers: all industries, plans with 10,000+ active participants (fewer than 30 industry peers) (820 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 89th |
| Lower admin cost | 75th |
| Employee saving | 90th |
| Peers that auto-enroll | 50% |
Get the monthly 401(k) report card
The best and worst plans, new grades as filings post. One email a month, no spam.
Red flags from the filing
Benefits not paid when due: the plan reported failing to pay some benefits on time.
What to do if you're in this plan
- State Street put in about $7,978 per active participant, more than the typical peer ($2,229). 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.
- 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 | $98,806,837 |
| Participant (employee) contributions | $163,121,552 |
| Other contributions (incl. rollovers in) | $28,248,837 |
| Administrative expenses paid from the plan | $2,694,935 |
| Benefits paid out | $427,940,208 |
| Net assets, start / end of year | $5.7B / $6.5B |
| Active participants, start / end of year | 12,777 / 11,992 |
| Participants with account balances | 21,266 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Ernst & Young LLP |
| Employer stock held by plan | $159,540,469 |
Largest service providers (Schedule C)
| State Street Global Advisors | $1,422,487 reported compensation |
| Strategic Advisors, Inc. | $756,613 reported compensation |
| Fidelity Investments Institutional | $369,053 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250929100558NAL0012035056001, received 2025-09-29, EIN 04-2456637, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.