Southern Glazer's Wine and Spirits, LLC 401(k) Review & Grade
Southern Glazer's Union 401(k) Plan
Miramar, FLWholesale Trade1,156 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$868Employer $ per active participant
$4,375Employee $ saved per active participant
0.08%Direct admin cost, % of plan assets
$66.3MNet plan assets, end of year
$63,616Average balance per account
Score breakdown
- Employer generosity9.6 / 5019th percentile for employer $ per participant
- Low cost20.0 / 2580th percentile for low admin cost vs. same-size plans
- Employee saving6.8 / 1545th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score43 / 100 · Grade D
This plan vs. peers
Peers: Wholesale Trade plans with 500–2,499 active participants (603 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 19th |
| Lower admin cost | 80th |
| Employee saving | 45th |
| Peers that auto-enroll | 53% |
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Red flags from the filing
Corrective distributions: the plan refunded $16,763 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Southern Glazer's Wine and Spirits put in about $868 per active participant, below the typical peer ($1,792). 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 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 | $1,003,441 |
| Participant (employee) contributions | $5,059,309 |
| Other contributions (incl. rollovers in) | $17,220 |
| Administrative expenses paid from the plan | $31,199 |
| Investment advisory & management fees | $1,122 |
| Benefits paid out | $4,846,157 |
| Net assets, start / end of year | $16.1M / $66.3M |
| Active participants, start / end of year | 1,176 / 1,137 |
| Participants with account balances | 1,042 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Grant Thornton,llp |
Largest service providers (Schedule C)
| Schwab Retirement Plan Services Inc | $31,199 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015081354NAL0002094227001, received 2025-10-15, EIN 59-1285786, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.