Smithgroup Companies, Inc. 401(k) Review & Grade
The Smithgroup Retirement Accumulation Plan
Detroit, MIProfessional, Scientific & Technical Services1,485 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$4,386Employer $ per active participant
$12,152Employee $ saved per active participant
0.15%Direct admin cost, % of plan assets
$335.3MNet plan assets, end of year
$147,764Average balance per account
Score breakdown
- Employer generosity34.1 / 5068th percentile for employer $ per participant
- Low cost16.0 / 2564th percentile for low admin cost vs. same-size plans
- Employee saving11.3 / 1575th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score71 / 100 · Grade B
This plan vs. peers
Peers: Professional, Scientific & Technical Services plans with 500–2,499 active participants (1,469 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 68th |
| Lower admin cost | 64th |
| Employee saving | 75th |
| Peers that auto-enroll | 48% |
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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
- Smithgroup Companies put in about $4,386 per active participant, more than the typical peer ($3,082). 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 | $6,513,094 |
| Participant (employee) contributions | $18,045,243 |
| Other contributions (incl. rollovers in) | $3,475,281 |
| Administrative expenses paid from the plan | $454,663 |
| Investment advisory & management fees | $294,986 |
| Benefits paid out | $26,967,000 |
| Net assets, start / end of year | $290.4M / $335.3M |
| Active participants, start / end of year | 1,423 / 1,547 |
| Participants with account balances | 2,269 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Plante & Moran |
Largest service providers (Schedule C)
| Gregory J Schwartz & Company Inc | $294,986 reported compensation |
| Capital Group Retirement Plan Svcs. | $142,177 reported compensation |
| Plante & Moran PLLC | $17,500 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251003131859NAL0002358816001, received 2025-10-03, EIN 38-2247428, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.