Specialty Welding and Turnarounds, LLC 401(k) Review & Grade
Swat 401(k) Plan
Gonzales, LAOther Services2,438 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$750Employer $ per active participant
$1,615Employee $ saved per active participant
0.23%Direct admin cost, % of plan assets
$43.7MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity17.9 / 5036th percentile for employer $ per participant
- Low cost12.5 / 2550th percentile for low admin cost vs. same-size plans
- Employee saving5.3 / 1535th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score39 / 100 · Grade D
This plan vs. peers
Peers: Other Services plans with 500–2,499 active participants (333 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 36th |
| Lower admin cost | 50th |
| Employee saving | 35th |
| Peers that auto-enroll | 40% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Specialty Welding and Turnarounds put in about $750 per active participant, below the typical peer ($1,257). 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.
- 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 | $1,827,790 |
| Participant (employee) contributions | $3,936,786 |
| Other contributions (incl. rollovers in) | $636,253 |
| Administrative expenses paid from the plan | $92,599 |
| Contract administrator fees | $92,599 |
| Benefits paid out | $4,878,238 |
| Net assets, start / end of year | $37.2M / $43.7M |
| Active participants, start / end of year | 3,435 / 1,440 |
| Participants with account balances | 416 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Eisneramper, LLP |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $92,599 reported compensation |
| Osaic Wealth, Inc. | $27,310 reported compensation |
| Morningstar Investment Management L | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014124353NAL0003982832001, received 2025-10-14, EIN 46-3110540, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.