Sappi North America, Inc. 401(k) Review & Grade
Sappi North America, Inc. Salaried Investment Plan
Boston, MAManufacturing760 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$7,964Employer $ per active participant
$13,650Employee $ saved per active participant
0.04%Direct admin cost, % of plan assets
$376.8MNet plan assets, end of year
$355,828Average balance per account
Score breakdown
- Employer generosity46.6 / 5093th percentile for employer $ per participant
- Low cost22.8 / 2591th percentile for low admin cost vs. same-size plans
- Employee saving14.5 / 1596th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score87 / 100 · Grade A
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 93th |
| Lower admin cost | 91th |
| Employee saving | 96th |
| 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
- Sappi North America put in about $7,964 per active participant, more than the typical peer ($2,320). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- 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.
- 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 | $6,056,436 |
| Participant (employee) contributions | $10,380,447 |
| Other contributions (incl. rollovers in) | $615,495 |
| Administrative expenses paid from the plan | $132,366 |
| Other admin expenses | $132,366 |
| Benefits paid out | $33,492,770 |
| Net assets, start / end of year | $348.2M / $376.8M |
| Active participants, start / end of year | 772 / 749 |
| Participants with account balances | 1,059 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Caron & Bletzer, PLLC |
Largest service providers (Schedule C)
| The Vanguard Group, Inc. | $78,476 reported compensation |
| Nepc, LLC | $37,490 reported compensation |
| Caron & Bletzer PLLC | $19,800 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250821110520NAL0004090273001, received 2025-08-21, EIN 23-2366983, plan #005, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.