Smtc Corporation 401(k) Review & Grade
Smtc 401(k) Plan
Melbourne, FLProfessional, Scientific & Technical Services593 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,438Employer $ per active participant
$5,993Employee $ saved per active participant
0.63%Direct admin cost, % of plan assets
$33.7MNet plan assets, end of year
$40,410Average balance per account
Score breakdown
- Employer generosity12.8 / 5026th percentile for employer $ per participant
- Low cost3.9 / 2516th percentile for low admin cost vs. same-size plans
- Employee saving4.5 / 1530th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score31 / 100 · Grade D
This plan vs. peers
Peers: Professional, Scientific & Technical Services plans with 500–2,499 active participants (1,469 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 26th |
| Lower admin cost | 16th |
| Employee saving | 30th |
| 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
- Smtc put in about $1,438 per active participant, below the typical peer ($3,082). 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.
- Direct plan expenses (0.63% 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.
- 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 | $852,791 |
| Participant (employee) contributions | $3,553,641 |
| Other contributions (incl. rollovers in) | $542,984 |
| Administrative expenses paid from the plan | $201,894 |
| Investment advisory & management fees | $77,638 |
| Benefits paid out | $4,756,663 |
| Net assets, start / end of year | $29.9M / $33.7M |
| Active participants, start / end of year | 655 / 531 |
| Participants with account balances | 834 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Rehmann Robson |
Largest service providers (Schedule C)
| Adp, Inc. | $124,256 reported compensation |
| Merrill Lynch Pierce Fenner & Smith | $79,021 reported compensation |
| Adp Broker-Dealer | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015090716NAL0002144835001, received 2025-10-15, EIN 77-0386123, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.