Western Alliance Bancorporation 401(k) Review & Grade
Western Alliance Bancorporation 401(k) Plan
Phoenix, AZFinance & Insurance3,440 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$5,664Employer $ per active participant
$9,978Employee $ saved per active participant
0.07%Direct admin cost, % of plan assets
$444.2MNet plan assets, end of year
$105,234Average balance per account
Score breakdown
- Employer generosity32.6 / 5065th percentile for employer $ per participant
- Low cost17.0 / 2568th percentile for low admin cost vs. same-size plans
- Employee saving10.1 / 1567th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score67 / 100 · Grade B
This plan vs. peers
Peers: Finance & Insurance plans with 2,500–9,999 active participants (199 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 65th |
| Lower admin cost | 68th |
| Employee saving | 67th |
| Peers that auto-enroll | 66% |
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Red flags from the filing
Corrective distributions: the plan refunded $11,629 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Western Alliance Bancorporation put in about $5,664 per active participant, more than the typical peer ($4,489). 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 | $19,481,738 |
| Participant (employee) contributions | $34,320,596 |
| Other contributions (incl. rollovers in) | $12,098,676 |
| Administrative expenses paid from the plan | $285,624 |
| Investment advisory & management fees | $164,501 |
| Benefits paid out | $36,205,436 |
| Net assets, start / end of year | $356.9M / $444.2M |
| Active participants, start / end of year | 3,319 / 3,560 |
| Participants with account balances | 4,221 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | RSM US LLP |
| Employer stock held by plan | $15,674,527 |
Largest service providers (Schedule C)
| Schwab Retirement Plan Services Inc | $235,973 reported compensation |
| Capfinancial Partners LLC | $37,132 reported compensation |
| Envestnet Asset Management Inc | $7,197 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251110172034NAL0006290176001, received 2025-11-10, EIN 88-0365922, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.