Searles Valley Minerals Inc. 401(k) Review & Grade
Searles Valley Minerals 401(k) Plan
Overland Park, KSManufacturing542 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$6,214Employer $ per active participant
$9,699Employee $ saved per active participant
0.18%Direct admin cost, % of plan assets
$115.0MNet plan assets, end of year
$164,027Average balance per account
Score breakdown
- Employer generosity44.3 / 5089th percentile for employer $ per participant
- Low cost14.5 / 2558th percentile for low admin cost vs. same-size plans
- Employee saving13.3 / 1589th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score82 / 100 · Grade A
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 89th |
| Lower admin cost | 58th |
| Employee saving | 89th |
| Peers that auto-enroll | 59% |
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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
- Searles Valley Minerals put in about $6,214 per active participant, more than the typical peer ($2,320). 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.
- 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 | $3,371,151 |
| Participant (employee) contributions | $5,261,470 |
| Other contributions (incl. rollovers in) | $178,898 |
| Administrative expenses paid from the plan | $207,927 |
| Investment advisory & management fees | $105,114 |
| Other admin expenses | $100 |
| Benefits paid out | $25,372,743 |
| Net assets, start / end of year | $117.5M / $115.0M |
| Active participants, start / end of year | 553 / 532 |
| Participants with account balances | 701 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Cbiz Cpas P.C. |
Largest service providers (Schedule C)
| Empower Advisory Group, LLC | $92,334 reported compensation |
| Empower Annuity Insurance Company | $73,067 reported compensation |
| Onedigital Investment Advisors LLC | $30,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250922102607NAL0002090659001, received 2025-09-22, EIN 13-3579263, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.