Sunshine Ace Hardware, Inc. 401(k) Review & Grade
Sunshine Ace Hardware, Inc. 401(k) Profit Sharing Plan and Trust
Bonita Springs, FLRetail Trade548 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,083Employer $ per active participant
$1,623Employee $ saved per active participant
0.43%Direct admin cost, % of plan assets
$19.1MNet plan assets, end of year
$60,224Average balance per account
Score breakdown
- Employer generosity32.2 / 5064th percentile for employer $ per participant
- Low cost7.0 / 2528th percentile for low admin cost vs. same-size plans
- Employee saving4.0 / 1526th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue 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 | 64th |
| Lower admin cost | 28th |
| Employee saving | 26th |
| 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 ($30,866 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- Sunshine Ace Hardware put in about $1,083 per active participant, more than the typical peer ($743). 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 (0.43% 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 | $593,102 |
| Participant (employee) contributions | $888,665 |
| Other contributions (incl. rollovers in) | $20,374 |
| Administrative expenses paid from the plan | $78,516 |
| Other admin expenses | $2,100 |
| Benefits paid out | $1,626,058 |
| Net assets, start / end of year | $17.4M / $19.1M |
| Active participants, start / end of year | 584 / 511 |
| Participants with account balances | 317 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Kabat, Schertzer, De La Torre, Tara |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company | $59,339 reported compensation |
| Naples Asset Mgmt Company, LLC | $38,978 reported compensation |
| The Aimpoint Group, LLC | $21,419 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014150211NAL0001550355001, received 2025-10-14, EIN 20-0201457, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.