SMC, LTD. 401(k) Review & Grade
SMC Retirement Plan
Somerset, WIManufacturing1,428 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,486Employer $ per active participant
$3,484Employee $ saved per active participant
0.24%Direct admin cost, % of plan assets
$78.9MNet plan assets, end of year
$79,618Average balance per account
Score breakdown
- Employer generosity15.3 / 5031th percentile for employer $ per participant
- Low cost12.1 / 2548th percentile for low admin cost vs. same-size plans
- Employee saving4.4 / 1530th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score35 / 100 · Grade D
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 31th |
| Lower admin cost | 48th |
| Employee saving | 30th |
| 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
- SMC put in about $1,486 per active participant, below the typical peer ($2,320). 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.
- 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 | $2,120,682 |
| Participant (employee) contributions | $4,973,259 |
| Other contributions (incl. rollovers in) | $1,204,581 |
| Administrative expenses paid from the plan | $175,769 |
| Contract administrator fees | $175,769 |
| Benefits paid out | $5,738,620 |
| Net assets, start / end of year | $66.6M / $78.9M |
| Active participants, start / end of year | 1,408 / 1,447 |
| Participants with account balances | 991 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Wipfli LLP |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $175,768 reported compensation |
| Wilshire Advisors LLC | $0 reported compensation |
| Morningstar Investment Management L | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250908161548NAL0012409123001, received 2025-09-08, EIN 39-1572281, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.