Sme Steel Contractors, Inc. 401(k) Review & Grade
Sme 401(k) Employee Savings Plan
West Jordan, UTConstruction930 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,107Employer $ per active participant
$3,600Employee $ saved per active participant
0.35%Direct admin cost, % of plan assets
$17.5MNet plan assets, end of year
$13,328Average balance per account
Score breakdown
- Employer generosity30.4 / 5061th percentile for employer $ per participant
- Low cost8.7 / 2535th percentile for low admin cost vs. same-size plans
- Employee saving6.8 / 1545th percentile for employee $ per participant
- Plan features0 / 10No auto-enrollment or default investment reported
- Red-flag deductions-5 pts1 issue reported on the filing
Total score41 / 100 · Grade D
This plan vs. peers
Peers: Construction plans with 500–2,499 active participants (498 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 61th |
| Lower admin cost | 35th |
| Employee saving | 45th |
| Peers that auto-enroll | 44% |
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Red flags from the filing
Auditor disclaimer: the auditor issued a disclaimer of opinion.
What to do if you're in this plan
- Sme Steel Contractors put in about $2,107 per active participant, more than the typical peer ($1,672). 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.
- Direct plan expenses (0.35% 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 | $1,960,709 |
| Participant (employee) contributions | $3,349,600 |
| Other contributions (incl. rollovers in) | $15,554 |
| Administrative expenses paid from the plan | $55,819 |
| Contract administrator fees | $22,093 |
| Investment advisory & management fees | $9,581 |
| Benefits paid out | $2,777,877 |
| Net assets, start / end of year | $14.1M / $17.5M |
| Active participants, start / end of year | 905 / 956 |
| Participants with account balances | 1,315 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Keddington & Christensen |
Largest service providers (Schedule C)
| DWC Erisa Consultants LLC | $38,498 reported compensation |
| Empower Annuity Insurance Company | $24,145 reported compensation |
| Empower Advisory Group, LLC | $9,581 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014132120NAL0001410499001, received 2025-10-14, EIN 87-0495960, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.