Shurtape Technologies LLC 401(k) Review & Grade
The Shurtape Technologies Profit Sharing and Retirement Savings Plan
Hickory, NCManufacturing1,334 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3,063Employer $ per active participant
$6,139Employee $ saved per active participant
0.19%Direct admin cost, % of plan assets
$140.9MNet plan assets, end of year
$80,783Average balance per account
Score breakdown
- Employer generosity32.1 / 5064th percentile for employer $ per participant
- Low cost14.1 / 2557th percentile for low admin cost vs. same-size plans
- Employee saving9.8 / 1565th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score63 / 100 · Grade B
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 64th |
| Lower admin cost | 57th |
| Employee saving | 65th |
| Peers that auto-enroll | 59% |
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Red flags from the filing
Corrective distributions: the plan refunded $66,017 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Shurtape Technologies put in about $3,063 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 | $4,085,479 |
| Participant (employee) contributions | $8,188,920 |
| Other contributions (incl. rollovers in) | $1,069,107 |
| Administrative expenses paid from the plan | $237,527 |
| Investment advisory & management fees | $72,416 |
| Other admin expenses | $1,062 |
| Benefits paid out | $12,280,595 |
| Net assets, start / end of year | $114.9M / $140.9M |
| Active participants, start / end of year | 1,262 / 1,406 |
| Participants with account balances | 1,744 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Forvis Mazars, LLP |
Largest service providers (Schedule C)
| Merrill Lynch, Pierce, Fenner and S | $153,549 reported compensation |
| Captrust Financial Advisors | $54,025 reported compensation |
| Troutman Sanders LLP | $18,391 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013121155NAL0001280449001, received 2025-10-13, EIN 56-1941023, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.