Samet Corporation 401(k) Review & Grade
Samet Corporation 401(k) Profit Sharing Plan
Greensboro, NCConstruction564 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,797Employer $ per active participant
$7,452Employee $ saved per active participant
0.25%Direct admin cost, % of plan assets
$38.8MNet plan assets, end of year
$61,849Average balance per account
Score breakdown
- Employer generosity26.8 / 5054th percentile for employer $ per participant
- Low cost11.7 / 2547th percentile for low admin cost vs. same-size plans
- Employee saving12.5 / 1583th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score51 / 100 · Grade C
This plan vs. peers
Peers: Construction plans with 500–2,499 active participants (498 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 54th |
| Lower admin cost | 47th |
| Employee saving | 83th |
| Peers that auto-enroll | 44% |
Get the monthly 401(k) report card
The best and worst plans, new grades as filings post. One email a month, no spam.
Red flags from the filing
Corrective distributions: the plan refunded $141,797 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Samet put in about $1,797 per active participant, more than the typical peer ($1,672). 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.
- 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.
- 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 | $1,014,642 |
| Participant (employee) contributions | $4,206,625 |
| Other contributions (incl. rollovers in) | $1,020,606 |
| Administrative expenses paid from the plan | $92,100 |
| Contract administrator fees | $92,100 |
| Benefits paid out | $5,870,183 |
| Net assets, start / end of year | $34.0M / $38.8M |
| Active participants, start / end of year | 576 / 553 |
| Participants with account balances | 628 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Forvis Mazars LLP |
Largest service providers (Schedule C)
| Principal Life Insurance Co | $54,100 reported compensation |
| Global Retirement | $28,500 reported compensation |
| Strategic Ret Administration LLC | $17,643 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250730153035NAL0002044835001, received 2025-07-30, EIN 56-0794883, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.