Spartan Light Metal Products, Inc. 401(k) Review & Grade
Spartan Light Metal Products 401(k) Profit Sharing Plan
ST. Louis, MOManufacturing826 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,033Employer $ per active participant
$6,244Employee $ saved per active participant
0.24%Direct admin cost, % of plan assets
$71.4MNet plan assets, end of year
$72,011Average balance per account
Score breakdown
- Employer generosity22.2 / 5044th percentile for employer $ per participant
- Low cost12.2 / 2549th percentile for low admin cost vs. same-size plans
- Employee saving10.0 / 1566th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score44 / 100 · Grade D
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 44th |
| Lower admin cost | 49th |
| Employee saving | 66th |
| Peers that auto-enroll | 59% |
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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
- Spartan Light Metal Products put in about $2,033 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.
- 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 | $1,679,325 |
| Participant (employee) contributions | $5,157,143 |
| Other contributions (incl. rollovers in) | $47,460 |
| Administrative expenses paid from the plan | $162,255 |
| Investment advisory & management fees | $18,758 |
| Other admin expenses | $53,045 |
| Benefits paid out | $11,276,620 |
| Net assets, start / end of year | $65.7M / $71.4M |
| Active participants, start / end of year | 804 / 848 |
| Participants with account balances | 991 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Uhy, LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $90,452 reported compensation |
| Creative Planning | $53,045 reported compensation |
| Strategic Advisors, Inc. | $18,758 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250922120721NAL0006051024001, received 2025-09-22, EIN 37-0805188, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.