Schluter Systems L.P. 401(k) Review & Grade
Schluter Systems L.P. 401(k) Profit Sharing Plan
Plattsburgh, NYProfessional, Scientific & Technical Services1,142 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3,767Employer $ per active participant
$5,396Employee $ saved per active participant
0.47%Direct admin cost, % of plan assets
$70.0MNet plan assets, end of year
$55,490Average balance per account
Score breakdown
- Employer generosity30.4 / 5061th percentile for employer $ per participant
- Low cost6.2 / 2525th percentile for low admin cost vs. same-size plans
- Employee saving3.9 / 1526th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score51 / 100 · Grade C
This plan vs. peers
Peers: Professional, Scientific & Technical Services plans with 500–2,499 active participants (1,469 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 61th |
| Lower admin cost | 25th |
| Employee saving | 26th |
| Peers that auto-enroll | 48% |
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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
- Schluter Systems L.P. put in about $3,767 per active participant, more than the typical peer ($3,082). 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 (0.47% 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 | $4,304,203 |
| Participant (employee) contributions | $6,164,972 |
| Other contributions (incl. rollovers in) | $714,269 |
| Administrative expenses paid from the plan | $302,339 |
| Contract administrator fees | $24,021 |
| Investment advisory & management fees | $265,071 |
| Other admin expenses | $13,247 |
| Benefits paid out | $6,776,762 |
| Net assets, start / end of year | $58.2M / $70.0M |
| Active participants, start / end of year | 1,146 / 1,139 |
| Participants with account balances | 1,261 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Rodl Langford De Kock LLP |
Largest service providers (Schedule C)
| Benefit Plan Admin Services | $173,139 reported compensation |
| LPL Financial | $129,200 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250904150025NAL0016254513001, received 2025-09-04, EIN 14-1772376, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.