Twilio Inc. 401(k) Review & Grade
Twilio 401(k) Plan
San Francisco, CAInformation3,300 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$5,596Employer $ per active participant
$19,942Employee $ saved per active participant
0.06%Direct admin cost, % of plan assets
$628.4MNet plan assets, end of year
$110,215Average balance per account
Score breakdown
- Employer generosity35.6 / 5071th percentile for employer $ per participant
- Low cost18.1 / 2572th percentile for low admin cost vs. same-size plans
- Employee saving13.7 / 1592th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score74 / 100 · Grade B
This plan vs. peers
Peers: Information plans with 2,500–9,999 active participants (60 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 71th |
| Lower admin cost | 72th |
| Employee saving | 92th |
| Peers that auto-enroll | 63% |
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Red flags from the filing
Corrective distributions: the plan refunded $81,354 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Twilio put in about $5,596 per active participant, more than the typical peer ($3,691). 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 | $18,464,116 |
| Participant (employee) contributions | $65,799,651 |
| Other contributions (incl. rollovers in) | $12,174,718 |
| Administrative expenses paid from the plan | $348,896 |
| Contract administrator fees | $600 |
| Investment advisory & management fees | $71,559 |
| Benefits paid out | $60,045,483 |
| Net assets, start / end of year | $505.5M / $628.4M |
| Active participants, start / end of year | 3,492 / 3,107 |
| Participants with account balances | 5,702 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Ary Roepcke Mulchaey, P.C. |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $243,737 reported compensation |
| Three Bell Capital | $71,559 reported compensation |
| Ary Roepcke Mulchaey, P.C. | $33,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250912150604NAL0000842883001, received 2025-09-12, EIN 26-2574840, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.