Canfor Southern Pine, Inc. 401(k) Review & Grade
Canfor Southern Pine, Inc. 401(k) Plan
Myrtle Beach, SCManufacturing2,607 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,860Employer $ per active participant
$5,208Employee $ saved per active participant
0.05%Direct admin cost, % of plan assets
$141.7MNet plan assets, end of year
$49,932Average balance per account
Score breakdown
- Employer generosity12.9 / 5026th percentile for employer $ per participant
- Low cost19.3 / 2577th percentile for low admin cost vs. same-size plans
- Employee saving6.0 / 1540th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score38 / 100 · Grade D
This plan vs. peers
Peers: Manufacturing plans with 2,500–9,999 active participants (566 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 26th |
| Lower admin cost | 77th |
| Employee saving | 40th |
| Peers that auto-enroll | 70% |
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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 ($439 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- Canfor Southern Pine put in about $1,860 per active participant, below the typical peer ($3,452). 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.
- 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 | $4,848,209 |
| Participant (employee) contributions | $13,576,857 |
| Other contributions (incl. rollovers in) | $895,365 |
| Administrative expenses paid from the plan | $71,054 |
| Benefits paid out | $21,037,746 |
| Net assets, start / end of year | $128.6M / $141.7M |
| Active participants, start / end of year | 2,648 / 2,566 |
| Participants with account balances | 2,837 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Smith Dukes & Buckalew LLP |
Largest service providers (Schedule C)
| T Rowe Price RPS Inc | $71,055 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015105323NAL0005850688001, received 2025-10-15, EIN 57-1128614, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.