Southern Hvac Corporation 401(k) Review & Grade
Southern Hvac Corporation 401(k) Plan
Maitland, FLConstruction922 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,297Employer $ per active participant
$2,330Employee $ saved per active participant
0.85%Direct admin cost, % of plan assets
$14.9MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity20.3 / 5041th percentile for employer $ per participant
- Low cost2.2 / 259th percentile for low admin cost vs. same-size plans
- Employee saving4.0 / 1527th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score30 / 100 · Grade D
This plan vs. peers
Peers: Construction plans with 500–2,499 active participants (498 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 41th |
| Lower admin cost | 9th |
| Employee saving | 27th |
| Peers that auto-enroll | 44% |
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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
- Southern Hvac put in about $1,297 per active participant, below the typical peer ($1,672). 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 (0.85% 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.
- 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 | $1,195,218 |
| Participant (employee) contributions | $2,147,253 |
| Other contributions (incl. rollovers in) | $1,248,986 |
| Administrative expenses paid from the plan | $111,498 |
| Contract administrator fees | $78,538 |
| Investment advisory & management fees | $32,960 |
| Benefits paid out | $1,881,815 |
| Net assets, start / end of year | $11.2M / $14.9M |
| Active participants, start / end of year | 894 / 949 |
| Participants with account balances | 428 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Warren Averett, LLC |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $67,702 reported compensation |
| Kestra Advisory Services, LLC | $32,948 reported compensation |
| Florida Retirement Cons | $10,835 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250612093804NAL0048149074001, received 2025-06-12, EIN 81-2606496, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.