Southwest Business Corporation 401(k) Review & Grade
Swbc 401(k) Plan
San Antonio, TXFinance & Insurance2,118 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,208Employer $ per active participant
$6,983Employee $ saved per active participant
0.11%Direct admin cost, % of plan assets
$275.0MNet plan assets, end of year
$104,792Average balance per account
Score breakdown
- Employer generosity12.2 / 5024th percentile for employer $ per participant
- Low cost17.8 / 2571th percentile for low admin cost vs. same-size plans
- Employee saving7.4 / 1549th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score44 / 100 · Grade D
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 24th |
| Lower admin cost | 71th |
| Employee saving | 49th |
| Peers that auto-enroll | 62% |
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 $2,754 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Southwest Business put in about $2,208 per active participant, below the typical peer ($3,606). 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 | $4,675,691 |
| Participant (employee) contributions | $14,787,515 |
| Other contributions (incl. rollovers in) | $2,394,585 |
| Administrative expenses paid from the plan | $296,378 |
| Contract administrator fees | $266,978 |
| Benefits paid out | $36,527,023 |
| Net assets, start / end of year | $253.4M / $275.0M |
| Active participants, start / end of year | 2,210 / 2,025 |
| Participants with account balances | 2,624 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Bdo USA LLP |
Largest service providers (Schedule C)
| John Hancock | $266,978 reported compensation |
| Rsmus LLP | $29,400 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251010141646NAL0008298929001, received 2025-10-10, EIN 75-1553739, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.