SM Energy Company 401(k) Review & Grade
SM Energy Company 401(k) Profit Sharing Plan
Denver, COMining, Oil & Gas594 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$11,398Employer $ per active participant
$12,737Employee $ saved per active participant
0.03%Direct admin cost, % of plan assets
$190.3MNet plan assets, end of year
$250,439Average balance per account
Score breakdown
- Employer generosity43.4 / 5087th percentile for employer $ per participant
- Low cost23.3 / 2593th percentile for low admin cost vs. same-size plans
- Employee saving13.4 / 1589th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score73 / 100 · Grade B
This plan vs. peers
Peers: Mining, Oil & Gas plans with 500–2,499 active participants (129 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 87th |
| Lower admin cost | 93th |
| Employee saving | 89th |
| Peers that auto-enroll | 60% |
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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 ($610 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- SM Energy put in about $11,398 per active participant, more than the typical peer ($4,357). 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 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 | $6,764,606 |
| Participant (employee) contributions | $7,559,159 |
| Other contributions (incl. rollovers in) | $1,451,119 |
| Administrative expenses paid from the plan | $52,082 |
| Contract administrator fees | $600 |
| Investment advisory & management fees | $50,670 |
| Benefits paid out | $14,785,886 |
| Net assets, start / end of year | $164.3M / $190.3M |
| Active participants, start / end of year | 536 / 651 |
| Participants with account balances | 760 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Bdo USA, P.C. |
Largest service providers (Schedule C)
| Strategic Advisors, Inc. | $50,670 reported compensation |
| Fidelity Investments Institutional | $1,412 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250814153229NAL0005484243001, received 2025-08-14, EIN 41-0518430, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.