The Suddath Companies 401(k) Review & Grade
The Suddath Companies Retirement Savings Plan
Jacksonville, FLTransportation & Warehousing1,754 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$491Employer $ per active participant
$4,868Employee $ saved per active participant
0.29%Direct admin cost, % of plan assets
$89.9MNet plan assets, end of year
$41,631Average balance per account
Score breakdown
- Employer generosity13.2 / 5026th percentile for employer $ per participant
- Low cost10.4 / 2542th percentile for low admin cost vs. same-size plans
- Employee saving11.0 / 1573th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score32 / 100 · Grade D
This plan vs. peers
Peers: Transportation & Warehousing plans with 500–2,499 active participants (392 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 26th |
| Lower admin cost | 42th |
| Employee saving | 73th |
| Peers that auto-enroll | 37% |
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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 ($145 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $25,084 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Suddath Companies put in about $491 per active participant, below the typical peer ($1,070). 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 | $860,562 |
| Participant (employee) contributions | $8,537,619 |
| Other contributions (incl. rollovers in) | $691,257 |
| Administrative expenses paid from the plan | $249,544 |
| Contract administrator fees | $203,551 |
| Investment advisory & management fees | $34,425 |
| Benefits paid out | $12,721,242 |
| Net assets, start / end of year | $81.8M / $89.9M |
| Active participants, start / end of year | 1,789 / 1,719 |
| Participants with account balances | 2,159 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Pivot Cpas |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $203,550 reported compensation |
| Capfinancial Partners,ll | $45,994 reported compensation |
| Morningstar Investment Management L | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251009071108NAL0003390259001, received 2025-10-09, EIN 59-1786274, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.