401(k) · DOL Form 5500 · 2023

Upwork Inc. 401(k) Plan

Data updated 2026-08-25

$93M
Total assets Below avg plan size
867
Participants Near avg headcount
91st
Percentile by assets National rank
$107,401
Avg per participant Below avg balance/head
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Official DOL plan name: Upwork Retirement Savings Plan · Sponsored by Upwork Inc. · California · Administrative & Support Services

$93M in assets, 867 participants

Upwork Inc.'s Upwork Retirement Savings Plan reported $93M in total assets and 867 participants in its 2023 DOL Form 5500 filing, ranking in the 91st percentile by assets among filed plans. Figures are as reported by the plan sponsor to the Department of Labor, not audited or endorsed by PlainRetire.

  • #4,186 in Administrative & Support Services (4,372 peers)

Where Upwork Retirement Savings Plan sits by assets

Upwork Retirement Savings Plan sits in the top 10% of all filed plans by assets, $93M for 867 participants (~$107,401/participant), up 39.4% in 2023.

#4,186
in Administrative & Support Services (4,372 peers)
+39.4%
assets growth YoY
0.9×
vs typical plan assets (national mean)

Upwork Retirement Savings Plan's outsized position by total assets

Upwork Retirement Savings Plan vs every filed plan by assets

End-of-year total assets · plan year 2023 · DOL Form 5500

$93,116,872 Top 9% higher than 91% of 127,068 filed plans

This plan $0 $2,050,000,000 every filed plan with reported assets, bucketed by value

Dashed line + filled bar = this entry, among filed plans.

Source U.S. Department of Labor Form 5500 filings (EBSA) · plan year 2023

Upwork Retirement Savings Plan among mid-size filed plans by headcount

Plan-year 2023 Form 5500 filings with a reported participant count, partitioned by headcount band, not by assets. Upwork Retirement Savings Plan sits mid-pack in the medium band (867 participants).

What changed between DOL Form 5500 filings

plan year 2022 → plan year 2023

  • Upwork Retirement Savings Plan reported net income rose from -$1M in the plan year 2022 filing to $26M in the plan year 2023 filing.
  • Upwork Retirement Savings Plan end-of-year assets rose from $67M in the plan year 2022 filing to $93M in the plan year 2023 filing.
  • Upwork Retirement Savings Plan reported participants rose from 644 in the plan year 2022 filing to 867 in the plan year 2023 filing.

See the national 2022→2023 release diff →

Plan-year Form 5500 strip

Filing strip 464337682 · Upwork Inc. PY 2023 · 401(k)

Upwork Retirement Savings Plan · $93M · 867 · 91st

  • PHOTO $93M
  • IND 867
  • EOY 91st
  • 5500 401(k)
  • ASSETS near Eastman & Smith Ltd. Profit Sharing and Savings Plan and Trust
  • PCT ind #4186

Stamps derive from this plan's Form 5500 line items (assets, participants, type, EIN, cohort placement) - not a quality rating of the sponsor. Read with Administrative & Support Services retirement plans → · Plans in California →

Upwork Retirement Savings Plan in the asset neighbourhood

Upwork Retirement Savings PlanUpwork Retirement Savings Pl…$93MEastman & Smith Ltd. Profit Sharing and Savings Plan and TrustEastman & Smith Ltd. Profit …$93MMadison Dearborn Partners LLC Savings Incentive PlanMadison Dearborn Partners LL…$93MMethode Electronics, Inc. 401(k) Savings PlanMethode Electronics, Inc. 40…$93MModernizing Medicine, Inc. 401(k) PlanModernizing Medicine, Inc. 4…$93M
End-of-year total assets ($M) among Upwork Retirement Savings Plan and nearest nationwide 401(k) peers. Source: DOL Form 5500 plan year 2023.

Scale-class filing particulars (2023)

Total Assets (Beginning of Year)$67M
Net Assets (End of Year)$93M
Net Income$26M
Employer EIN464337682
Plan Effective Date2014-05-01
Filing StatusFILING RECEIVED

Sponsor Plan History (Upwork Inc.)

Sponsor-wide plan assets over time

All Upwork Inc. plans reported in each filing year

Latest sponsor-wide plan assets
$122M 82.3684228021962% vs 2022
2024 filing year
$60M$80M$100M$120M$140M 202220232024 $66.8M $122M ▲ +82.4%
Year Plans Participants Total Assets
2022 1 644 $67M
2023 1 867 $93M
2024 1 792 $122M

Nearby 401(k) Plans in California

Peer 401(k) plans, same state, same plan type, ranked by total assets.

Upwork Retirement Savings Plan vs. nearby 401(k) plans in California, assets vs. participants Scatter plot of 6 data points. -50000050000100000150000200000250000 -200204060 Total assets ($B) Participants Upwork Retirement Savings Plan, Total assets ($B): 0.093116872 · Participants: 867Upwork Retirement Savings PlanWells Fargo & Company 401(k) Plan, Total assets ($B): 51.831350351 · Participants: 193919Wells Fargo & Company 401(k) PlanGoogle LLC 401(k) Savings Plan, Total assets ($B): 39.047152408 · Participants: 122867Google LLC 401(k) Savings PlanOracle Corporation 401(k) Savings and Investment Plan, Total assets ($B): 26.320437734 · Participants: 63105Oracle Corporation 401(k) Savings and Investment PlanIntel 401(k) Savings Plan, Total assets ($B): 22.17918189 · Participants: 59863Intel 401(k) Savings PlanApple 401(k) Plan, Total assets ($B): 19.779511539 · Participants: 106111Apple 401(k) Plan
Upwork Retirement Savings Plan vs. nearby 401(k) plans in California, assets vs. participants
Compare Upwork Retirement Savings Plan side-by-side with 3 peers →

Upwork Retirement Savings Plan's out-of-state 401(k) peers by assets and headcount

Outside California, the nearest 401(k) by assets is Eastman & Smith Ltd. Profit Sharing and Savings Plan and Trust in OH ($93M); by covered participants it is Popular, Inc. USA 401(k) Savings & Investment Plan in PR (867 participants). Same-state nearby plans are listed separately above.

Similar participant headcount

Nearest other-state filings by covered participants (867 participants); asset peers above are excluded.

DOL Form 5500 plan year 2023. Asset totals can differ widely at the same headcount; neither axis is a quality rating.

Frequently Asked Questions

How did Upwork Retirement Savings Plan assets move in 2023? ▼
Upwork Retirement Savings Plan surged - up 39.4% during 2023, from $67M to $93M. Reported net income was $26M.
How have Upwork Inc. plan assets changed over time? ▼
Across 3 plan years on file (2022-2024), Upwork Inc.'s sponsor-wide assets grew 82.4%, from $67M to $122M.
Where does Upwork Retirement Savings Plan rank by assets among Form 5500 filers? ▼
Upwork Retirement Savings Plan ranks in the 91st percentile by end-of-year assets among 127,072 plans that reported assets for plan year 2023 (in the top 10% of all filed plans by assets).
Which 401(k) plans are similar in size to Upwork Retirement Savings Plan? ▼
Among 401(k) plans in other states, the closest by assets is Eastman & Smith Ltd. Profit Sharing and Savings Plan and Trust in OH ($93M, 118 participants).
Which 401(k) plans cover a similar participant headcount to Upwork Retirement Savings Plan? ▼
Among 401(k) plans in other states, the closest by covered participants is Popular, Inc. USA 401(k) Savings & Investment Plan in PR (867 participants, $150M in assets).

Source: U.S. Department of Labor, Employee Benefits Security Administration (EBSA), Form 5500 public disclosure dataset. Plan year 2023.

Source: DOL EFAST2 filing system (efast.dol.gov) - original filing retrieval by EIN 464337682.

Read our methodology - how this data is sourced, computed, and verified.

Data sourced from U.S. Department of Labor Form 5500 filings (EBSA). See our methodology for details.