Wilmington Savings Fund Society, FSB 401(k) Review & Grade
Wsfs Financial Corporation Section 401k Savings & Retirement Plan
Wilmington, DEFinance & Insurance2,770 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3,718Employer $ per active participant
$5,980Employee $ saved per active participant
0.11%Direct admin cost, % of plan assets
$260.1MNet plan assets, end of year
$92,368Average balance per account
Score breakdown
- Employer generosity19.9 / 5040th percentile for employer $ per participant
- Low cost13.2 / 2553th percentile for low admin cost vs. same-size plans
- Employee saving2.9 / 1519th percentile for employee $ per participant
- Plan features7 / 10Auto-enrollment
Total score43 / 100 · Grade D
This plan vs. peers
Peers: Finance & Insurance plans with 2,500–9,999 active participants (199 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 40th |
| Lower admin cost | 53th |
| Employee saving | 19th |
| Peers that auto-enroll | 66% |
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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
- Wilmington Savings Fund Society, FSB put in about $3,718 per active participant, below the typical peer ($4,489). 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.
- 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 | $10,299,917 |
| Participant (employee) contributions | $16,568,302 |
| Other contributions (incl. rollovers in) | $1,607,372 |
| Administrative expenses paid from the plan | $272,836 |
| Benefits paid out | $21,475,852 |
| Net assets, start / end of year | $219.9M / $260.1M |
| Active participants, start / end of year | 2,427 / 3,114 |
| Participants with account balances | 2,816 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | KPMG |
| Employer stock held by plan | $16,566,937 |
Largest service providers (Schedule C)
| Empower Annuity Ins Co of America | $331,066 reported compensation |
| Axa Advisors, LLC | $245,200 reported compensation |
| Web401k.com, Inc. | $28,028 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250716100716NAL0002310707001, received 2025-07-16, EIN 51-0054940, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.