Sherle Wagner 401(k) Review & Grade
Swfm
Providence, RIManufacturing814 active participantsPlan year 2024
Estimate from the plan's Form 5500-SF filing · How we grade
$47Employer $ per active participant
$282Employee $ saved per active participant
0.44%Direct admin cost, % of plan assets
$3.9MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity0.8 / 502th percentile for employer $ per participant
- Low cost6.8 / 2527th percentile for low admin cost vs. same-size plans
- Employee saving0.1 / 151th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score8 / 100 · Grade F
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 2th |
| Lower admin cost | 27th |
| Employee saving | 1th |
| Peers that auto-enroll | 59% |
Get the monthly 401(k) report card
The best and worst plans, new grades as filings post. One email a month, no spam.
Red flags from the filing
Corrective distributions: the plan refunded $13,517 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Sherle Wagner put in about $47 per active participant, below the typical peer ($2,320). 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 (0.44% of assets) are well above similar-size plans (0.23%). 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.
- 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 | $38,285 |
| Participant (employee) contributions | $229,746 |
| Other contributions (incl. rollovers in) | – |
| Administrative expenses paid from the plan | $16,037 |
| Benefits paid out | $312,634 |
| Net assets, start / end of year | $3.4M / $3.9M |
| Active participants, start / end of year | 699 / 929 |
| Participants with account balances | 91 |
| Auto-enrollment (feature code 2S) | Not reported |
Source: DOL EFAST2 Form 5500-SF filing, acknowledgment ID 20251010062842NAL0004389459001, received 2025-10-10, EIN 13-7113482, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.