Sappi North America, Inc. 401(k) Review & Grade
Sappi North America, Inc. Hourly Investment Plan
Boston, MAManufacturing1,247 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$3,140Employer $ per active participant
$9,921Employee $ saved per active participant
0.05%Direct admin cost, % of plan assets
$282.3MNet plan assets, end of year
$180,152Average balance per account
Score breakdown
- Employer generosity32.6 / 5065th percentile for employer $ per participant
- Low cost21.7 / 2587th percentile for low admin cost vs. same-size plans
- Employee saving13.4 / 1589th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score71 / 100 · Grade B
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 65th |
| Lower admin cost | 87th |
| Employee saving | 89th |
| 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 $3,140 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 | $3,915,140 |
| Participant (employee) contributions | $12,371,568 |
| Other contributions (incl. rollovers in) | $619,310 |
| Administrative expenses paid from the plan | $140,776 |
| Other admin expenses | $140,776 |
| Benefits paid out | $29,296,852 |
| Net assets, start / end of year | $263.9M / $282.3M |
| Active participants, start / end of year | 1,242 / 1,252 |
| Participants with account balances | 1,567 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Caron & Bletzer, PLLC |
Largest service providers (Schedule C)
| The Vanguard Group, Inc. | $130,806 reported compensation |
| Nepc, LLC | $18,745 reported compensation |
| Caron & Bletzer, PLLC | $3,375 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250821110310NAL0002057075001, received 2025-08-21, EIN 23-2366983, plan #006, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.