Smith and Nephew, Inc. 401(k) Review & Grade
Smith & Nephew U.S. Savings Plan
Memphis, TNManufacturing6,476 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$8,875Employer $ per active participant
$10,264Employee $ saved per active participant
0.08%Direct admin cost, % of plan assets
$1.5BNet plan assets, end of year
$165,690Average balance per account
Score breakdown
- Employer generosity46.0 / 5092th percentile for employer $ per participant
- Low cost15.9 / 2563th percentile for low admin cost vs. same-size plans
- Employee saving12.3 / 1582th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score67 / 100 · Grade B
This plan vs. peers
Peers: Manufacturing plans with 2,500–9,999 active participants (566 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 92th |
| Lower admin cost | 63th |
| Employee saving | 82th |
| Peers that auto-enroll | 70% |
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Red flags from the filing
Benefits not paid when due: the plan reported failing to pay some benefits on time.
What to do if you're in this plan
- Smith and Nephew put in about $8,875 per active participant, more than the typical peer ($3,452). 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.
- 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 | $57,470,332 |
| Participant (employee) contributions | $66,465,489 |
| Other contributions (incl. rollovers in) | $9,966,265 |
| Administrative expenses paid from the plan | $1,175,441 |
| Contract administrator fees | $3,900 |
| Investment advisory & management fees | $796,799 |
| Other admin expenses | $110,367 |
| Benefits paid out | $164,095,840 |
| Net assets, start / end of year | $1.4B / $1.5B |
| Active participants, start / end of year | 6,667 / 6,284 |
| Participants with account balances | 9,171 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Horne, LLP |
Largest service providers (Schedule C)
| Strategic Advisors, Inc. | $519,214 reported compensation |
| Fidelity Investments Institutional | $268,275 reported compensation |
| Mercer | $79,677 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250701124105NAL0012144801001, received 2025-07-01, EIN 51-0123924, plan #008, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.