Sunstate Equipment Co., LLC 401(k) Review & Grade
Sunstate Equipment Co., LLC Retirement Savings Plan and Trust
Phoenix, AZManufacturing2,182 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,105Employer $ per active participant
$6,675Employee $ saved per active participant
0.19%Direct admin cost, % of plan assets
$164.0MNet plan assets, end of year
$56,388Average balance per account
Score breakdown
- Employer generosity22.8 / 5046th percentile for employer $ per participant
- Low cost14.0 / 2556th percentile for low admin cost vs. same-size plans
- Employee saving10.5 / 1570th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score54 / 100 · Grade C
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 46th |
| Lower admin cost | 56th |
| Employee saving | 70th |
| Peers that auto-enroll | 59% |
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Red flags from the filing
Corrective distributions: the plan refunded $10,566 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Sunstate Equipment Co. put in about $2,105 per active participant, below the typical peer ($2,320). 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 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 | $4,593,871 |
| Participant (employee) contributions | $14,567,822 |
| Other contributions (incl. rollovers in) | $4,177,995 |
| Administrative expenses paid from the plan | $284,852 |
| Investment advisory & management fees | $27,492 |
| Benefits paid out | $15,938,805 |
| Net assets, start / end of year | $138.9M / $164.0M |
| Active participants, start / end of year | 2,109 / 2,256 |
| Participants with account balances | 2,909 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Lbmc PC |
Largest service providers (Schedule C)
| Transamerica Retirement Solutions | $229,134 reported compensation |
| Nepc, LLC | $27,492 reported compensation |
| Lbmc PC | $16,900 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014165712NAL0001676323001, received 2025-10-14, EIN 86-0810251, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.