Singer Equipment Co., Inc. 401(k) Review & Grade
Singer Equipment Co., Inc. 401(k) Retirement Plan
Elverson, PAWholesale Trade918 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,089Employer $ per active participant
$6,136Employee $ saved per active participant
0.22%Direct admin cost, % of plan assets
$71.7MNet plan assets, end of year
$69,181Average balance per account
Score breakdown
- Employer generosity28.7 / 5057th percentile for employer $ per participant
- Low cost12.9 / 2552th percentile for low admin cost vs. same-size plans
- Employee saving10.5 / 1570th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score62 / 100 · Grade B
This plan vs. peers
Peers: Wholesale Trade plans with 500–2,499 active participants (603 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 57th |
| Lower admin cost | 52th |
| Employee saving | 70th |
| Peers that auto-enroll | 53% |
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
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Singer Equipment Co. put in about $2,089 per active participant, more than the typical peer ($1,792). 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.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- 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 | $1,917,750 |
| Participant (employee) contributions | $5,632,744 |
| Other contributions (incl. rollovers in) | $2,385,476 |
| Administrative expenses paid from the plan | $136,884 |
| Contract administrator fees | $12,532 |
| Investment advisory & management fees | $20,987 |
| Other admin expenses | $175 |
| Benefits paid out | $6,395,960 |
| Net assets, start / end of year | $54.9M / $71.7M |
| Active participants, start / end of year | 711 / 1,125 |
| Participants with account balances | 1,036 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Herbein Company, Inc. |
Largest service providers (Schedule C)
| Kingsview Wealth Management LLC | $70,141 reported compensation |
| Empower Annuity Insurance Company | $45,581 reported compensation |
| Kingsview Wealth Management | $19,292 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015103236NAL0005808272001, received 2025-10-15, EIN 23-1674739, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.