Southern New Hampshire University 401(k) Review & Grade
Southern New Hampshire University 401k
Manchester, NHEducational Services15,883 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,797Employer $ per active participant
$1,071Employee $ saved per active participant
0.11%Direct admin cost, % of plan assets
$285.0MNet plan assets, end of year
$30,398Average balance per account
Score breakdown
- Employer generosity22.3 / 5045th percentile for employer $ per participant
- Low cost10.2 / 2541th percentile for low admin cost vs. same-size plans
- Employee saving2.6 / 1517th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score28 / 100 · Grade F
This plan vs. peers
Peers: all industries, plans with 10,000+ active participants (fewer than 30 industry peers) (820 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 45th |
| Lower admin cost | 41th |
| Employee saving | 17th |
| Peers that auto-enroll | 50% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($40,173 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- Southern New Hampshire University put in about $1,797 per active participant, below the typical peer ($2,229). 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 reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- 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 | $28,545,742 |
| Participant (employee) contributions | $17,006,459 |
| Other contributions (incl. rollovers in) | $13,709,778 |
| Administrative expenses paid from the plan | $310,151 |
| Contract administrator fees | $6,870 |
| Benefits paid out | $16,524,937 |
| Net assets, start / end of year | $0 / $285.0M |
| Active participants, start / end of year | 0 / 15,883 |
| Participants with account balances | 9,376 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Gray, Gray, and Gray LLP |
Largest service providers (Schedule C)
| Fid Invst Instl Ops Co | $304,163 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251008102439NAL0002917955001, received 2025-10-08, EIN 02-0274509, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.