The Save Mart Companies 401(k) Review & Grade
Save Mart Companies Retirement Savings Plan
Modesto, CARetail Trade12,254 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$379Employer $ per active participant
$2,151Employee $ saved per active participant
0.11%Direct admin cost, % of plan assets
$993.0MNet plan assets, end of year
$144,894Average balance per account
Score breakdown
- Employer generosity11.0 / 5022th percentile for employer $ per participant
- Low cost10.4 / 2542th percentile for low admin cost vs. same-size plans
- Employee saving10.1 / 1567th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score29 / 100 · Grade F
This plan vs. peers
Peers: Retail Trade plans with 10,000+ active participants (124 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 22th |
| Lower admin cost | 42th |
| Employee saving | 67th |
| Peers that auto-enroll | 32% |
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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 ($1,863,903 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $1,549 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Save Mart Companies put in about $379 per active participant, below the typical peer ($689). 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.
- 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 | $4,639,361 |
| Participant (employee) contributions | $26,358,168 |
| Other contributions (incl. rollovers in) | $1,287,826 |
| Administrative expenses paid from the plan | $1,039,540 |
| Contract administrator fees | $967,626 |
| Investment advisory & management fees | $71,914 |
| Benefits paid out | $117,843,364 |
| Net assets, start / end of year | $949.8M / $993.0M |
| Active participants, start / end of year | 12,653 / 11,855 |
| Participants with account balances | 6,853 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Bdo USA, P.C. |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $944,755 reported compensation |
| Creative Planning, LLC | $94,785 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015150630NAL0006555456001, received 2025-10-15, EIN 94-1245496, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.