SHC Services, Inc. 401(k) Review & Grade
SHC Services, Inc. 401(k) Plan
Cottonwood Heights, UTAdministrative, Support & Staffing Services10,621 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$0Employer $ per active participant
$521Employee $ saved per active participant
0.18%Direct admin cost, % of plan assets
$97.8MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity3.1 / 506th percentile for employer $ per participant
- Low cost5.4 / 2522th percentile for low admin cost vs. same-size plans
- Employee saving5.2 / 1534th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score4 / 100 · Grade F
This plan vs. peers
Peers: Administrative, Support & Staffing Services plans with 10,000+ active participants (33 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 6th |
| Lower admin cost | 22th |
| Employee saving | 34th |
| Peers that auto-enroll | 36% |
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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 ($249,544 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $420,274 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- SHC Services put in about $0 per active participant, below the typical peer ($271). 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 (0.18% of assets) are well above similar-size plans (0.09%). 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 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 | $832 |
| Participant (employee) contributions | $5,533,565 |
| Other contributions (incl. rollovers in) | $160,537 |
| Administrative expenses paid from the plan | $165,386 |
| Contract administrator fees | $67,181 |
| Investment advisory & management fees | $90,575 |
| Benefits paid out | $10,418,614 |
| Net assets, start / end of year | $90.4M / $97.8M |
| Active participants, start / end of year | 10,940 / 10,302 |
| Participants with account balances | 2,903 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Traveller & Company |
Largest service providers (Schedule C)
| Stancorp Financial Group | $209,475 reported compensation |
| Mesirow Financial Inc. | $90,575 reported compensation |
| Traveller & Company | $7,630 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251006093326NAL0005778944001, received 2025-10-06, EIN 16-1216796, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.