How to compare two 401(k) plans

1. Calculate employer money

For each plan, calculate the employer contribution at your expected salary and savings rate. Include match caps, nonelective contributions, true-ups, and the portion you expect to vest before leaving.

Then compare that employee-specific result with the public contribution-per-active-participant trend. Large differences are a prompt to investigate, not proof that either source is wrong.

2. Price the portfolio you would hold

Choose the diversified funds you would realistically use in each plan and calculate their weighted expense ratio. Add account, recordkeeping, advisory, and managed-account fees that apply to you. Avoid averaging every fund in the menu; unused funds do not determine your cost.

3. Compare usability and safeguards

Check eligibility, automatic enrollment, payroll contribution controls, target-date funds, Roth access, loans, withdrawals, beneficiary tools, and rollover support. These features affect whether people can use the plan consistently.

4. Use filings for history and peer context

Review assets, active participants, employer contributions, administrative expenses, and provider records across several filings. Asset change is not investment performance because contributions, withdrawals, transfers, and market returns are mixed together.

Give the current Summary Plan Description and fee disclosure priority for current terms. Give the official filing priority for what the plan reported historically. That distinction prevents false precision.