Sovos Compliance, LLC 401(k) Review & Grade
Sovos Compliance, LLC 401(k) Retirement Plan
Wilmington, MAInformation862 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,757Employer $ per active participant
$9,851Employee $ saved per active participant
0.21%Direct admin cost, % of plan assets
$93.6MNet plan assets, end of year
$72,783Average balance per account
Score breakdown
- Employer generosity23.9 / 5048th percentile for employer $ per participant
- Low cost13.3 / 2553th percentile for low admin cost vs. same-size plans
- Employee saving8.4 / 1556th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score56 / 100 · Grade C
This plan vs. peers
Peers: Information plans with 500–2,499 active participants (310 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 48th |
| Lower admin cost | 53th |
| Employee saving | 56th |
| 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
- Sovos Compliance put in about $2,757 per active participant, below the typical peer ($2,829). 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.
- 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 | $2,377,689 |
| Participant (employee) contributions | $8,496,462 |
| Other contributions (incl. rollovers in) | $3,506,772 |
| Administrative expenses paid from the plan | $176,874 |
| Investment advisory & management fees | $25,300 |
| Benefits paid out | $10,563,362 |
| Net assets, start / end of year | $78.1M / $93.6M |
| Active participants, start / end of year | 907 / 818 |
| Participants with account balances | 1,286 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Caron & Bletzer, PLLC |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $151,574 reported compensation |
| Strategic Advisors, Inc. | $25,300 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250707090342NAL0001492899001, received 2025-07-07, EIN 46-1379693, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.