The Smead Manufacturing Company 401(k) Review & Grade
The Smead Manufacturing Company Employees' Investment Plan and Trust
Hastings, MNManufacturing554 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$188Employer $ per active participant
$5,424Employee $ saved per active participant
0.11%Direct admin cost, % of plan assets
$119.2MNet plan assets, end of year
$154,408Average balance per account
Score breakdown
- Employer generosity1.5 / 503th percentile for employer $ per participant
- Low cost18.2 / 2573th percentile for low admin cost vs. same-size plans
- Employee saving8.6 / 1558th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score38 / 100 · Grade D
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 3th |
| Lower admin cost | 73th |
| Employee saving | 58th |
| Peers that auto-enroll | 59% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Smead Manufacturing put in about $188 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 | $104,210 |
| Participant (employee) contributions | $3,001,909 |
| Other contributions (incl. rollovers in) | $405,290 |
| Administrative expenses paid from the plan | $126,297 |
| Investment advisory & management fees | $56,141 |
| Benefits paid out | $15,772,845 |
| Net assets, start / end of year | $118.4M / $119.2M |
| Active participants, start / end of year | 588 / 519 |
| Participants with account balances | 772 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Clifton, Larson, Allen LLP |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company O | $70,156 reported compensation |
| Empower Advisory Group, LLC | $56,141 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250917141451NAL0000611491001, received 2025-09-17, EIN 41-0543420, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.