S.P. Richards Company 401(k) Review & Grade
S.P. Richards 401(k) Retirement Plan
Atlanta, GAWholesale Trade1,266 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$750Employer $ per active participant
$3,440Employee $ saved per active participant
0.12%Direct admin cost, % of plan assets
$66.8MNet plan assets, end of year
$47,086Average balance per account
Score breakdown
- Employer generosity7.6 / 5015th percentile for employer $ per participant
- Low cost17.2 / 2569th percentile for low admin cost vs. same-size plans
- Employee saving4.5 / 1530th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score39 / 100 · Grade D
This plan vs. peers
Peers: Wholesale Trade plans with 500–2,499 active participants (603 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 15th |
| Lower admin cost | 69th |
| Employee saving | 30th |
| Peers that auto-enroll | 53% |
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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
- S.P. Richards put in about $750 per active participant, below the typical peer ($1,792). 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.
- 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 | $949,417 |
| Participant (employee) contributions | $4,354,746 |
| Other contributions (incl. rollovers in) | $956,464 |
| Administrative expenses paid from the plan | $80,976 |
| Benefits paid out | $10,946,711 |
| Net assets, start / end of year | $63.8M / $66.8M |
| Active participants, start / end of year | 1,297 / 1,235 |
| Participants with account balances | 1,418 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Crowe LLP |
Largest service providers (Schedule C)
| The Vanguard Group, Inc. | $80,976 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251008213449NAL0003551683001, received 2025-10-08, EIN 58-1237213, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.