Swift - Society for Worldwide Interbank Financial Telecommunication, I 401(k) Review & Grade
Swift 401(k) Savings Plan
Culpeper, VAInformation718 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$11,953Employer $ per active participant
$13,334Employee $ saved per active participant
0.05%Direct admin cost, % of plan assets
$290.7MNet plan assets, end of year
$283,304Average balance per account
Score breakdown
- Employer generosity49.8 / 50100th percentile for employer $ per participant
- Low cost21.4 / 2586th percentile for low admin cost vs. same-size plans
- Employee saving11.7 / 1578th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score93 / 100 · Grade A
This plan vs. peers
Peers: Information plans with 500–2,499 active participants (310 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 100th |
| Lower admin cost | 86th |
| Employee saving | 78th |
| Peers that auto-enroll | 59% |
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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
- Swift - Society for Worldwide Interbank Financial Telecommunication, I put in about $11,953 per active participant, more than the typical peer ($2,829). 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 | $8,588,502 |
| Participant (employee) contributions | $9,580,530 |
| Other contributions (incl. rollovers in) | $2,011,533 |
| Administrative expenses paid from the plan | $151,396 |
| Contract administrator fees | $99,004 |
| Benefits paid out | $27,237,788 |
| Net assets, start / end of year | $261.8M / $290.7M |
| Active participants, start / end of year | 713 / 724 |
| Participants with account balances | 1,026 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Pricewaterhousecoopers |
Largest service providers (Schedule C)
| Empower Advisory Group, LLC | $99,004 reported compensation |
| Empower Annuity Insurance Company O | $51,881 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250904152826NAL0009813299001, received 2025-09-04, EIN 54-1106980, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.