Southern Glazer's Wine and Spirits, LLC 401(k) Review & Grade
Southern Glazer's 401(k) Plan
Miami, FLWholesale Trade18,543 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,420Employer $ per active participant
$7,053Employee $ saved per active participant
0.07%Direct admin cost, % of plan assets
$2.1BNet plan assets, end of year
$104,576Average balance per account
Score breakdown
- Employer generosity25.0 / 5050th percentile for employer $ per participant
- Low cost15.0 / 2560th percentile for low admin cost vs. same-size plans
- Employee saving12.4 / 1582th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score59 / 100 · Grade C
This plan vs. peers
Peers: Wholesale Trade plans with 10,000+ active participants (35 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 50th |
| Lower admin cost | 60th |
| Employee saving | 82th |
| Peers that auto-enroll | 63% |
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Red flags from the filing
Corrective distributions: the plan refunded $753,572 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Southern Glazer's Wine and Spirits put in about $2,420 per active participant, more than the typical peer ($2,420). 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 | $44,878,632 |
| Participant (employee) contributions | $130,781,347 |
| Other contributions (incl. rollovers in) | $11,068,348 |
| Administrative expenses paid from the plan | $1,338,052 |
| Investment advisory & management fees | $393,971 |
| Benefits paid out | $204,150,498 |
| Net assets, start / end of year | $1.9B / $2.1B |
| Active participants, start / end of year | 18,867 / 18,219 |
| Participants with account balances | 19,804 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Grant Thornton,llp |
Largest service providers (Schedule C)
| Schwab Retirement Plan Services Inc | $1,210,502 reported compensation |
| Capfinancial Partners LLC | $126,875 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015082034NAL0002098163001, received 2025-10-15, EIN 59-1285786, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.