Storage Asset Management, LLC 401(k) Review & Grade
Storage Asset Management, LLC 401(k) Profit Sharing Plan
York, PAReal Estate & Rental699 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$927Employer $ per active participant
$1,381Employee $ saved per active participant
1.16%Direct admin cost, % of plan assets
$7.4MNet plan assets, end of year
$21,003Average balance per account
Score breakdown
- Employer generosity19.5 / 5039th percentile for employer $ per participant
- Low cost1.2 / 255th percentile for low admin cost vs. same-size plans
- Employee saving2.2 / 1515th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score13 / 100 · Grade F
This plan vs. peers
Peers: Real Estate & Rental plans with 500–2,499 active participants (291 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 39th |
| Lower admin cost | 5th |
| Employee saving | 15th |
| Peers that auto-enroll | 47% |
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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 ($76 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $2,016 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Storage Asset Management put in about $927 per active participant, below the typical peer ($1,279). 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.
- Direct plan expenses (1.16% of assets) are well above similar-size plans (0.23%). 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 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 | $648,079 |
| Participant (employee) contributions | $965,382 |
| Other contributions (incl. rollovers in) | $133,748 |
| Administrative expenses paid from the plan | $76,045 |
| Contract administrator fees | $56,001 |
| Benefits paid out | $769,760 |
| Net assets, start / end of year | $5.7M / $7.4M |
| Active participants, start / end of year | 734 / 664 |
| Participants with account balances | 354 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | RKL LLP |
Largest service providers (Schedule C)
| Capital Group Retirement Plan Servi | $34,136 reported compensation |
| Edward Jones | $27,455 reported compensation |
| Siegel Actuarial Consulting, Inc. | $9,510 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015161950NAL0005105313001, received 2025-10-15, EIN 27-2449301, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.