Workrise Technologies, Inc. 401(k) Review & Grade
Workrise Technologies, Inc. 401(k) Plan
Austin, TXProfessional, Scientific & Technical Services2,032 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,150Employer $ per active participant
$5,534Employee $ saved per active participant
0.40%Direct admin cost, % of plan assets
$76.2MNet plan assets, end of year
$45,344Average balance per account
Score breakdown
- Employer generosity17.8 / 5036th percentile for employer $ per participant
- Low cost7.6 / 2531th percentile for low admin cost vs. same-size plans
- Employee saving4.1 / 1527th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score20 / 100 · Grade F
This plan vs. peers
Peers: Professional, Scientific & Technical Services plans with 500–2,499 active participants (1,469 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 36th |
| Lower admin cost | 31th |
| Employee saving | 27th |
| Peers that auto-enroll | 48% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($13,109 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $10,097 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Workrise Technologies put in about $2,150 per active participant, below the typical peer ($3,082). 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.
- Direct plan expenses (0.40% of assets) are well above similar-size plans (0.23%). Check your annual fee disclosure, choose low-cost index funds if you can, and think about whether savings beyond the match belong in an IRA.
- The plan reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- 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 | $4,370,366 |
| Participant (employee) contributions | $11,247,763 |
| Other contributions (incl. rollovers in) | $2,743,292 |
| Administrative expenses paid from the plan | $271,570 |
| Contract administrator fees | $900 |
| Investment advisory & management fees | $55,906 |
| Benefits paid out | $10,092,949 |
| Net assets, start / end of year | $59.9M / $76.2M |
| Active participants, start / end of year | 1,913 / 2,152 |
| Participants with account balances | 1,681 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Saville Cpas and Advisors, LLC |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $181,554 reported compensation |
| Wells Fargo Clearing Services LLC | $55,906 reported compensation |
| Saville Cpas & Advisors, L.L.C. | $34,110 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250729101439NAL0004394576001, received 2025-07-29, EIN 46-5175744, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.