Springfield Grocer Company 401(k) Review & Grade
Springfield Grocer Company 401(k) Retirement & Profit Sharing Plan
Springfield, MORetail Trade568 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$682Employer $ per active participant
$3,337Employee $ saved per active participant
0.20%Direct admin cost, % of plan assets
$24.3MNet plan assets, end of year
$70,391Average balance per account
Score breakdown
- Employer generosity23.4 / 5047th percentile for employer $ per participant
- Low cost13.8 / 2555th percentile for low admin cost vs. same-size plans
- Employee saving8.4 / 1556th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score36 / 100 · Grade D
This plan vs. peers
Peers: Retail Trade plans with 500–2,499 active participants (719 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 47th |
| Lower admin cost | 55th |
| Employee saving | 56th |
| Peers that auto-enroll | 48% |
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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 ($65,439 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $39,226 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Springfield Grocer put in about $682 per active participant, below the typical peer ($743). 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 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 | $387,429 |
| Participant (employee) contributions | $1,895,597 |
| Other contributions (incl. rollovers in) | $272,052 |
| Administrative expenses paid from the plan | $45,676 |
| Contract administrator fees | $45,676 |
| Benefits paid out | $4,231,813 |
| Net assets, start / end of year | $22.5M / $24.3M |
| Active participants, start / end of year | 557 / 579 |
| Participants with account balances | 345 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Forvis Mazars, LLP |
Largest service providers (Schedule C)
| John Hancock Retirement Plan Srvcs | $45,676 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014100759NAL0002480673001, received 2025-10-14, EIN 44-0444000, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.