Body Shop Bids D/B/A Snapsheet 401(k) Review & Grade
Snapsheet, Inc. Ancillary Plan
Chicago, ILFinance & Insurance546 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3,121Employer $ per active participant
$5,227Employee $ saved per active participant
0.58%Direct admin cost, % of plan assets
$24.2MNet plan assets, end of year
$38,225Average balance per account
Score breakdown
- Employer generosity20.5 / 5041th percentile for employer $ per participant
- Low cost4.6 / 2519th percentile for low admin cost vs. same-size plans
- Employee saving3.9 / 1526th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score39 / 100 · Grade D
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 41th |
| Lower admin cost | 19th |
| Employee saving | 26th |
| Peers that auto-enroll | 62% |
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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
- Body Shop Bids D/B/A Snapsheet put in about $3,121 per active participant, below the typical peer ($3,606). 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.
- Direct plan expenses (0.58% 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 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 | $1,705,441 |
| Participant (employee) contributions | $2,856,555 |
| Other contributions (incl. rollovers in) | $586,416 |
| Administrative expenses paid from the plan | $123,114 |
| Investment advisory & management fees | $51,900 |
| Benefits paid out | $2,192,558 |
| Net assets, start / end of year | $18.3M / $24.2M |
| Active participants, start / end of year | 564 / 529 |
| Participants with account balances | 633 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Cassell Plan Audits |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company O | $71,214 reported compensation |
| Mma Securities LLC | $51,900 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251007131455NAL0002490323001, received 2025-10-07, EIN 45-2557414, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.