Savage Companies 401(k) Review & Grade
Savage Companies Retirement & Employee Savings Plan
Midvale, UTManagement of Companies3,414 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,043Employer $ per active participant
$5,909Employee $ saved per active participant
0.19%Direct admin cost, % of plan assets
$345.8MNet plan assets, end of year
$70,630Average balance per account
Score breakdown
- Employer generosity13.6 / 5027th percentile for employer $ per participant
- Low cost9.2 / 2537th percentile for low admin cost vs. same-size plans
- Employee saving5.6 / 1537th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score35 / 100 · Grade D
This plan vs. peers
Peers: Management of Companies plans with 2,500–9,999 active participants (60 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 27th |
| Lower admin cost | 37th |
| Employee saving | 37th |
| Peers that auto-enroll | 58% |
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Red flags from the filing
Corrective distributions: the plan refunded $21,796 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Savage Companies put in about $2,043 per active participant, below the typical peer ($3,455). 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.
- Direct plan expenses (0.19% of assets) are well above similar-size plans (0.12%). 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 | $6,973,951 |
| Participant (employee) contributions | $20,168,792 |
| Other contributions (incl. rollovers in) | $13,926,043 |
| Administrative expenses paid from the plan | $608,431 |
| Other admin expenses | $608,431 |
| Benefits paid out | $35,850,119 |
| Net assets, start / end of year | $301.1M / $345.8M |
| Active participants, start / end of year | 3,252 / 3,575 |
| Participants with account balances | 4,896 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Tanner LLC |
Largest service providers (Schedule C)
| The Vanguard Group, Inc. | $403,804 reported compensation |
| Vanguard Advisers Inc. | $148,065 reported compensation |
| Mariner Wealth Advisors | $55,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250717161058NAL0000639313001, received 2025-07-17, EIN 87-0387049, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.