Smiths Group Services Corporation 401(k) Review & Grade
Smiths Group Incentive Savings Plan
Washington, DCManufacturing5,382 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,940Employer $ per active participant
$4,648Employee $ saved per active participant
0.04%Direct admin cost, % of plan assets
$1.0BNet plan assets, end of year
$163,540Average balance per account
Score breakdown
- Employer generosity21.4 / 5043th percentile for employer $ per participant
- Low cost21.8 / 2587th percentile for low admin cost vs. same-size plans
- Employee saving4.8 / 1532th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-23 pts3 issues reported on the filing
Total score28 / 100 · Grade F
This plan vs. peers
Peers: Manufacturing plans with 2,500–9,999 active participants (566 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 43th |
| Lower admin cost | 87th |
| Employee saving | 32th |
| Peers that auto-enroll | 70% |
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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 ($315,895 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Benefits not paid when due: the plan reported failing to pay some benefits on time.
Corrective distributions: the plan refunded $430,410 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Smiths Group Services put in about $2,940 per active participant, below the typical peer ($3,452). Any match is still an instant return, so contribute enough to get all of it.
- 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 | $15,824,871 |
| Participant (employee) contributions | $25,016,104 |
| Other contributions (incl. rollovers in) | $7,486,985 |
| Administrative expenses paid from the plan | $346,090 |
| Other admin expenses | $90,000 |
| Benefits paid out | $114,138,541 |
| Net assets, start / end of year | $923.4M / $1.0B |
| Active participants, start / end of year | 4,550 / 6,215 |
| Participants with account balances | 6,130 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Kreischer Miller |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $190,835 reported compensation |
| Captrust | $90,000 reported compensation |
| Kreischer Miller | $55,021 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014122040NAL0003913584001, received 2025-10-14, EIN 22-3015350, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.