SRS Distribution Inc. 401(k) Review & Grade
SRS Distribution Inc. 401(k) Plan
Mckinney, TXConstruction10,489 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3,670Employer $ per active participant
$5,960Employee $ saved per active participant
0.16%Direct admin cost, % of plan assets
$574.8MNet plan assets, end of year
$46,828Average balance per account
Score breakdown
- Employer generosity32.6 / 5065th percentile for employer $ per participant
- Low cost6.4 / 2526th percentile for low admin cost vs. same-size plans
- Employee saving8.6 / 1557th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score55 / 100 · Grade C
This plan vs. peers
Peers: all industries, plans with 10,000+ active participants (fewer than 30 industry peers) (820 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 65th |
| Lower admin cost | 26th |
| Employee saving | 57th |
| Peers that auto-enroll | 50% |
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Red flags from the filing
Corrective distributions: the plan refunded $8,734 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- SRS Distribution put in about $3,670 per active participant, more than the typical peer ($2,229). 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.
- Direct plan expenses (0.16% of assets) are well above similar-size plans (0.09%). Check your annual fee disclosure, choose low-cost index funds if you can, and think about whether savings beyond the match belong in an IRA.
- 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 | $38,490,241 |
| Participant (employee) contributions | $62,514,751 |
| Other contributions (incl. rollovers in) | $12,617,127 |
| Administrative expenses paid from the plan | $829,606 |
| Contract administrator fees | $4,500 |
| Investment advisory & management fees | $76,728 |
| Other admin expenses | $53,347 |
| Benefits paid out | $63,922,890 |
| Net assets, start / end of year | $465.2M / $574.8M |
| Active participants, start / end of year | 10,546 / 10,432 |
| Participants with account balances | 12,275 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Weaver and Tidwell, LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $689,166 reported compensation |
| Morgan Stanley Smith Barney LLC | $76,728 reported compensation |
| Alvarez & Marsal Tax, LLC | $64,089 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250826151150NAL0015377872001, received 2025-08-26, EIN 26-1965852, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.