SPX Enterprises, LLC 401(k) Review & Grade
SPX Retirement Savings and Stock Ownership Plan
Charlotte, NCManufacturing3,518 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$3,211Employer $ per active participant
$5,770Employee $ saved per active participant
0.05%Direct admin cost, % of plan assets
$969.4MNet plan assets, end of year
$163,718Average balance per account
Score breakdown
- Employer generosity23.5 / 5047th percentile for employer $ per participant
- Low cost19.4 / 2578th percentile for low admin cost vs. same-size plans
- Employee saving6.9 / 1546th percentile for employee $ per participant
- Plan features0 / 10No auto-enrollment or default investment reported
Total score50 / 100 · Grade C
This plan vs. peers
Peers: Manufacturing plans with 2,500–9,999 active participants (566 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 47th |
| Lower admin cost | 78th |
| Employee saving | 46th |
| Peers that auto-enroll | 70% |
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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
- SPX Enterprises put in about $3,211 per active participant, below the typical peer ($3,452). 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.
- 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 | $11,295,528 |
| Participant (employee) contributions | $20,296,434 |
| Other contributions (incl. rollovers in) | $2,499,116 |
| Administrative expenses paid from the plan | $466,195 |
| Contract administrator fees | $3,300 |
| Investment advisory & management fees | $94,515 |
| Other admin expenses | $15,264 |
| Benefits paid out | $99,534,674 |
| Net assets, start / end of year | $825.6M / $969.4M |
| Active participants, start / end of year | 3,529 / 3,506 |
| Participants with account balances | 5,921 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Bdo USA, P.C. |
| Employer stock held by plan | $196,604,436 |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $277,408 reported compensation |
| Mercer Investment Management, Inc. | $94,515 reported compensation |
| Plante & Moran PLLC | $43,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250902103320NAL0008372931001, received 2025-09-02, EIN 88-1769617, plan #005, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.