Sonny's Enterprises, LLC 401(k) Review & Grade
Sonny's Enterprises, LLC 401(k) Profit Plan
Tamarac, FLManufacturing1,696 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,397Employer $ per active participant
$4,512Employee $ saved per active participant
0.43%Direct admin cost, % of plan assets
$54.4MNet plan assets, end of year
$40,444Average balance per account
Score breakdown
- Employer generosity13.9 / 5028th percentile for employer $ per participant
- Low cost7.0 / 2528th percentile for low admin cost vs. same-size plans
- Employee saving6.7 / 1544th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score25 / 100 · Grade F
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 28th |
| Lower admin cost | 28th |
| Employee saving | 44th |
| Peers that auto-enroll | 59% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($2,075 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $197,373 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Sonny's Enterprises put in about $1,397 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.
- Direct plan expenses (0.43% 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.
- The plan reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- 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 | $2,368,475 |
| Participant (employee) contributions | $7,651,893 |
| Other contributions (incl. rollovers in) | $1,764,121 |
| Administrative expenses paid from the plan | $216,942 |
| Contract administrator fees | $216,942 |
| Benefits paid out | $9,051,418 |
| Net assets, start / end of year | $46.2M / $54.4M |
| Active participants, start / end of year | 1,742 / 1,650 |
| Participants with account balances | 1,345 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Templeton & Company, LLP |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $216,942 reported compensation |
| Thurston Springer Advisors | $80,846 reported compensation |
| Wells Fargo Advisors Fin Network | $18,203 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014123914NAL0005966194001, received 2025-10-14, EIN 06-1312117, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.