Daniels Sharpsmart, Inc. 401(k) Review & Grade
Daniels Sharpsmart, Inc. 401(k) Plan
Chicago, ILAdministrative, Support & Staffing Services860 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,112Employer $ per active participant
$3,257Employee $ saved per active participant
1.22%Direct admin cost, % of plan assets
$14.8MNet plan assets, end of year
$14,819Average balance per account
Score breakdown
- Employer generosity32.4 / 5065th percentile for employer $ per participant
- Low cost1.1 / 254th percentile for low admin cost vs. same-size plans
- Employee saving9.7 / 1564th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score53 / 100 · Grade C
This plan vs. peers
Peers: Administrative, Support & Staffing Services plans with 500–2,499 active participants (401 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 65th |
| Lower admin cost | 4th |
| Employee saving | 64th |
| Peers that auto-enroll | 27% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Daniels Sharpsmart put in about $1,112 per active participant, more than the typical peer ($712). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- 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 (1.22% 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 auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- 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 | $957,114 |
| Participant (employee) contributions | $2,802,458 |
| Other contributions (incl. rollovers in) | $630,716 |
| Administrative expenses paid from the plan | $153,622 |
| Investment advisory & management fees | $34,634 |
| Benefits paid out | $1,284,529 |
| Net assets, start / end of year | $10.3M / $14.8M |
| Active participants, start / end of year | 799 / 922 |
| Participants with account balances | 1,002 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Anders Minkler Huber & Helm LLP |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company O | $118,988 reported compensation |
| Onedigital Investment Advisors LLC | $15,731 reported compensation |
| Wintrust Investments LLC | $15,177 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251229210708NAL0041765954001, received 2025-12-29, EIN 84-1617227, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.