Smiley Brothers, Inc. 401(k) Review & Grade
Smiley Brothers, Inc. 401(k) Plan
New Paltz, NYAccommodation & Food Services608 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,113Employer $ per active participant
$2,440Employee $ saved per active participant
0.05%Direct admin cost, % of plan assets
$38.0MNet plan assets, end of year
$91,213Average balance per account
Score breakdown
- Employer generosity44.1 / 5088th percentile for employer $ per participant
- Low cost21.5 / 2586th percentile for low admin cost vs. same-size plans
- Employee saving13.2 / 1588th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score79 / 100 · Grade A
This plan vs. peers
Peers: Accommodation & Food Services plans with 500–2,499 active participants (458 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 88th |
| Lower admin cost | 86th |
| Employee saving | 88th |
| Peers that auto-enroll | 17% |
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Red flags from the filing
Corrective distributions: the plan refunded $4,430 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Smiley Brothers put in about $1,113 per active participant, more than the typical peer ($266). 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.
- 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 | $676,668 |
| Participant (employee) contributions | $1,483,803 |
| Other contributions (incl. rollovers in) | $60,360 |
| Administrative expenses paid from the plan | $19,113 |
| Contract administrator fees | $19,113 |
| Benefits paid out | $1,033,128 |
| Net assets, start / end of year | $32.2M / $38.0M |
| Active participants, start / end of year | 640 / 576 |
| Participants with account balances | 417 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | PKF O'connor Davies, LLP |
Largest service providers (Schedule C)
| The Vanguard Group, Inc. | $24,238 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013124552NAL0001330705001, received 2025-10-13, EIN 14-1506387, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.