Stephens Institute DBA Academy of Art University 401(k) Review & Grade
Academy of Art University 401(k) Retirement Plan
San Francisco, CAEducational Services1,266 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2Employer $ per active participant
$2,749Employee $ saved per active participant
0.24%Direct admin cost, % of plan assets
$85.6MNet plan assets, end of year
$106,794Average balance per account
Score breakdown
- Employer generosity1.0 / 502th percentile for employer $ per participant
- Low cost12.1 / 2548th percentile for low admin cost vs. same-size plans
- Employee saving8.2 / 1555th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score21 / 100 · Grade F
This plan vs. peers
Peers: Educational Services plans with 500–2,499 active participants (144 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 2th |
| Lower admin cost | 48th |
| Employee saving | 55th |
| Peers that auto-enroll | 37% |
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Red flags from the filing
Corrective distributions: the plan refunded $52,828 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Stephens Institute DBA Academy of Art University put in about $2 per active participant, below the typical peer ($1,225). 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.
- 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 | $2,596 |
| Participant (employee) contributions | $3,478,869 |
| Other contributions (incl. rollovers in) | $67,939 |
| Administrative expenses paid from the plan | $199,852 |
| Contract administrator fees | $24,944 |
| Investment advisory & management fees | $145,900 |
| Benefits paid out | $7,980,819 |
| Net assets, start / end of year | $79.2M / $85.6M |
| Active participants, start / end of year | 1,399 / 1,132 |
| Participants with account balances | 802 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Almich & Associates |
Largest service providers (Schedule C)
| Cerity Partners | $145,900 reported compensation |
| July Business Services LLC | $52,871 reported compensation |
| Charles Schwab Bank | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251006152542NAL0009771922001, received 2025-10-06, EIN 94-1637804, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.