Sparc Group LLC 401(k) Review & Grade
The Sparc Group LLC 401(k) Investment and Savings Plan
Lyndhurst, NJRetail Trade11,592 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$782Employer $ per active participant
$2,153Employee $ saved per active participant
0.20%Direct admin cost, % of plan assets
$341.8MNet plan assets, end of year
$19,607Average balance per account
Score breakdown
- Employer generosity28.9 / 5058th percentile for employer $ per participant
- Low cost4.4 / 2518th percentile for low admin cost vs. same-size plans
- Employee saving10.2 / 1568th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score51 / 100 · Grade C
This plan vs. peers
Peers: Retail Trade plans with 10,000+ active participants (124 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 58th |
| Lower admin cost | 18th |
| Employee saving | 68th |
| Peers that auto-enroll | 32% |
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Red flags from the filing
Corrective distributions: the plan refunded $18,213 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Sparc Group put in about $782 per active participant, more than the typical peer ($689). 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 (0.20% of assets) are well above similar-size plans (0.09%). 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.
- 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 | $9,065,062 |
| Participant (employee) contributions | $24,959,710 |
| Other contributions (incl. rollovers in) | $3,762,132 |
| Administrative expenses paid from the plan | $638,509 |
| Contract administrator fees | $560,791 |
| Investment advisory & management fees | $25,089 |
| Other admin expenses | $52,629 |
| Benefits paid out | $34,203,455 |
| Net assets, start / end of year | $294.0M / $341.8M |
| Active participants, start / end of year | 11,521 / 11,662 |
| Participants with account balances | 17,435 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Bdo, USA, P.C. |
Largest service providers (Schedule C)
| Voya Retirement Insurance & Annuity | $615,252 reported compensation |
| Voya Retirement Advisors, LLC | $23,462 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015165043NAL0005179521001, received 2025-10-15, EIN 81-3795831, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.