Southern Management Companies LLC 401(k) Review & Grade
Southern Management Companies LLC 401(k) Savings Plan
Mclean, VAReal Estate & Rental2,101 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,327Employer $ per active participant
$1,492Employee $ saved per active participant
0.22%Direct admin cost, % of plan assets
$91.7MNet plan assets, end of year
$46,221Average balance per account
Score breakdown
- Employer generosity26.2 / 5052th percentile for employer $ per participant
- Low cost12.8 / 2551th percentile for low admin cost vs. same-size plans
- Employee saving2.5 / 1517th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score49 / 100 · Grade C
This plan vs. peers
Peers: Real Estate & Rental plans with 500–2,499 active participants (291 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 52th |
| Lower admin cost | 51th |
| Employee saving | 17th |
| Peers that auto-enroll | 47% |
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Red flags from the filing
Corrective distributions: the plan refunded $7,418 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Southern Management Companies put in about $1,327 per active participant, more than the typical peer ($1,279). 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.
- 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 | $2,788,776 |
| Participant (employee) contributions | $3,133,915 |
| Other contributions (incl. rollovers in) | $122,989 |
| Administrative expenses paid from the plan | $193,188 |
| Other admin expenses | $193,188 |
| Benefits paid out | $7,323,298 |
| Net assets, start / end of year | $83.9M / $91.7M |
| Active participants, start / end of year | 2,051 / 2,151 |
| Participants with account balances | 1,983 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Baker Tilly US, LLP |
Largest service providers (Schedule C)
| The Vanguard Group, Inc. | $165,372 reported compensation |
| Baker Tilly US LLP | $18,270 reported compensation |
| Vanguard Advisers Inc. | $16,547 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251008174203NAL0003468755001, received 2025-10-08, EIN 52-1223227, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.