Southern Mail Service, Inc. 401(k) Review & Grade
Southern Mail Service, Inc. Retirement Plan
Conroe, TXTransportation & Warehousing724 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,711Employer $ per active participant
$807Employee $ saved per active participant
2.39%Direct admin cost, % of plan assets
$11.3MNet plan assets, end of year
$15,275Average balance per account
Score breakdown
- Employer generosity40.7 / 5081th percentile for employer $ per participant
- Low cost0.2 / 251th percentile for low admin cost vs. same-size plans
- Employee saving1.4 / 159th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score42 / 100 · Grade D
This plan vs. peers
Peers: Transportation & Warehousing plans with 500–2,499 active participants (392 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 81th |
| Lower admin cost | 1th |
| Employee saving | 9th |
| Peers that auto-enroll | 37% |
Get the monthly 401(k) report card
The best and worst plans, new grades as filings post. One email a month, no spam.
Red flags from the filing
Corrective distributions: the plan refunded $5,195 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Southern Mail Service put in about $2,711 per active participant, more than the typical peer ($1,070). 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.
- Direct plan expenses (2.39% 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 | $1,964,166 |
| Participant (employee) contributions | $584,323 |
| Other contributions (incl. rollovers in) | $14,979 |
| Administrative expenses paid from the plan | $262,624 |
| Contract administrator fees | $40,757 |
| Investment advisory & management fees | $66,934 |
| Benefits paid out | $2,915,103 |
| Net assets, start / end of year | $10.7M / $11.3M |
| Active participants, start / end of year | 794 / 655 |
| Participants with account balances | 738 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Bas Partners |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company | $154,933 reported compensation |
| Assured Partners Capital, Inc | $54,627 reported compensation |
| Premier Retirement Partners LLC | $40,757 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250618094500NAL0001328483001, received 2025-06-18, EIN 75-1482649, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.