Sammons Corporation 401(k) Review & Grade
Sammons Enterprises, Inc. 401(k) Savings Plan
Dallas, TXFinance & Insurance3,548 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2Employer $ per active participant
$6,868Employee $ saved per active participant
0.03%Direct admin cost, % of plan assets
$341.3MNet plan assets, end of year
$87,607Average balance per account
Score breakdown
- Employer generosity0.3 / 501th percentile for employer $ per participant
- Low cost22.2 / 2589th percentile for low admin cost vs. same-size plans
- Employee saving4.4 / 1529th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score24 / 100 · Grade F
This plan vs. peers
Peers: Finance & Insurance plans with 2,500–9,999 active participants (199 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 1th |
| Lower admin cost | 89th |
| Employee saving | 29th |
| Peers that auto-enroll | 66% |
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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 ($97 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $22,207 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Sammons put in about $2 per active participant, below the typical peer ($4,489). 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 | $6,387 |
| Participant (employee) contributions | $24,362,868 |
| Other contributions (incl. rollovers in) | $15,064,185 |
| Administrative expenses paid from the plan | $98,548 |
| Investment advisory & management fees | $45,751 |
| Benefits paid out | $31,810,111 |
| Net assets, start / end of year | $284.6M / $341.3M |
| Active participants, start / end of year | 3,469 / 3,626 |
| Participants with account balances | 3,896 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Baker Tilly US, LLP |
Largest service providers (Schedule C)
| Schwab Retirement Plan Services,inc | $98,248 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251008153324NAL0006074033002, received 2025-10-08, EIN 75-0864422, plan #007, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.