Securtiy National Financial Corporation 401(k) Review & Grade
Snfc Mortgage Company 401(k) Plan
Murray, UTFinance & Insurance643 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$357Employer $ per active participant
$3,069Employee $ saved per active participant
0.33%Direct admin cost, % of plan assets
$33.4MNet plan assets, end of year
$82,334Average balance per account
Score breakdown
- Employer generosity2.1 / 504th percentile for employer $ per participant
- Low cost9.2 / 2537th percentile for low admin cost vs. same-size plans
- Employee saving1.0 / 157th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score12 / 100 · Grade F
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 4th |
| Lower admin cost | 37th |
| Employee saving | 7th |
| Peers that auto-enroll | 62% |
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Red flags from the filing
Corrective distributions: the plan refunded $49 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Securtiy National Financial put in about $357 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.
- 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 | $229,528 |
| Participant (employee) contributions | $1,973,647 |
| Other contributions (incl. rollovers in) | $1,269,837 |
| Administrative expenses paid from the plan | $108,004 |
| Investment advisory & management fees | $48,593 |
| Benefits paid out | $8,167,720 |
| Net assets, start / end of year | $31.8M / $33.4M |
| Active participants, start / end of year | 729 / 557 |
| Participants with account balances | 406 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Larson & Company PC |
| Employer stock held by plan | $12,931,254 |
Largest service providers (Schedule C)
| Schwab Retirement Plan Services,inc | $41,482 reported compensation |
| Soltis Investment Advisors LLC | $36,716 reported compensation |
| Charles Schwab & Co., Inc. | $19,511 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251002103409NAL0000253843001, received 2025-10-02, EIN 87-0345941, plan #004, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.