Retirement plan

OKTA 401(K) PLAN

Name: OKTA, INC. - OKTA 401(K) PLAN (2023) Form 5500
Creator: OKTA, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, OKTA 401(K) PLAN, OKTA, INC.

OKTA, INC.EIN 26-4175727Plan #001PY 2023

100 FIRST STREET 6TH FLOOR - SAN FRANCISCO, CA 94105415-494-8612okta.comLinkedIn5001-10000 employeescomputer software

Prospect flagsFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$420.5M

-41.7% from 2016

Total participants

5,600

-29.1% from 2016

Average account balance

$76,102

-17.5% from 2016

Annual return

27.72%

+2.35 pp from 2016

Benchmarks

See 928 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants1,000-4,999

Cohort928 peers

Snapshot2023

Free accounts unlock saves, downloads, and 3-year history.

Analytics

Total assets (EOY)

Plan-year ending balance

$544.71M

Not enough data

1 years with asset history on file

Average account balance

Total assets / participants with a balance (line 6g)

$98K

Not enough data

1 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

5,557

Not enough data

1 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

98.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$87.33M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$23K

Not enough data

1 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+21.87%

Not enough data

1 years with return on file

Admin fee / account holder

Total admin expenses / participants with a balance (line 6g)

$15

Not enough data

1 years with admin cost on file

Asset composition

Cash / stocks / bonds / mutual funds / real estate / loans over time

Not enough data

1 years with F_SCH_H allocation on file

Free accounts unlock saves, downloads, and 3-year history.

Service providers

Top 1 by compensation

Provider	Service type	Compensation
FIDELITY INVESTMENTS INSTITUTIONAL9+ years Service code 37 · EIN 04-2647786	Loan Processing	$21,295

Plan features & details

Pension benefit codes2E2G2J2S2T3D2R

Plan features

2E
Profit-sharing
Profit-sharing plan.
2G
Total participant-directed account plan
Participants have the opportunity to direct the investment of all of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2J
Code section 401(k) feature
Cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan under which employees may elect to defer part of their compensation or receive these amounts in cash.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
2T
Default investment account
Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
3D
Pre-approved pension plan
A master prototype or volume submitter plan that is the subject of a favorable opinion or advisory letter from the IRS.

Opportunity flags

2 tripped

ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$15K

$4 / participant

Recordkeeping$13K91.7%
Contract admin$1K8.3%

% of EOY assets

0.003%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: MOSS ADAMS LLP
Auditor EIN: 910189318
Audit fees: $0
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$76,102

$107,415-29.2%

$135,998-44.0%

$80,187-5.1%

Participation rate

98.1%

78.0%+20.1pp

81.9%+16.2pp

72.9%+25.2pp

Annual return

27.72%

91.99%-64.3pp

68.37%-40.6pp

40.40%-12.7pp

Employer contribution / active EE

$4,819

$3,878+24.2%

$4,860-0.8%

$2,980+61.7%

Participant deferral / active EE

$16,890

$8,189+106.3%

$7,761+117.6%

$5,016+236.7%

Admin fee / account holder

$127-97.9%

$10,769-100.0%

$145-98.2%

Provider

Service type

Compensation

FIDELITY INVESTMENTS INSTITUTIONAL9+ years

Service code 37 · EIN 04-2647786

Loan Processing

$21,295

OKTA 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

OKTA 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion