SPS Commerce, Inc. 401(k) Review & Grade
SPS Commerce, Inc. 401(k) Retirement Savings Plan
Minneapolis, MNProfessional, Scientific & Technical Services2,009 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,852Employer $ per active participant
$9,473Employee $ saved per active participant
0.11%Direct admin cost, % of plan assets
$212.4MNet plan assets, end of year
$95,012Average balance per account
Score breakdown
- Employer generosity23.1 / 5046th percentile for employer $ per participant
- Low cost18.1 / 2572th percentile for low admin cost vs. same-size plans
- Employee saving8.1 / 1554th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score49 / 100 · Grade C
This plan vs. peers
Peers: Professional, Scientific & Technical Services plans with 500–2,499 active participants (1,469 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 46th |
| Lower admin cost | 72th |
| Employee saving | 54th |
| Peers that auto-enroll | 48% |
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Red flags from the filing
Corrective distributions: the plan refunded $27,783 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- SPS Commerce put in about $2,852 per active participant, below the typical peer ($3,082). 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 | $5,730,415 |
| Participant (employee) contributions | $19,030,621 |
| Other contributions (incl. rollovers in) | $3,807,693 |
| Administrative expenses paid from the plan | $206,364 |
| Investment advisory & management fees | $45,000 |
| Other admin expenses | $256 |
| Benefits paid out | $13,558,639 |
| Net assets, start / end of year | $170.2M / $212.4M |
| Active participants, start / end of year | 1,887 / 2,131 |
| Participants with account balances | 2,235 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Wipfli LLP |
| Employer stock held by plan | $19,378,857 |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $161,101 reported compensation |
| Creative Planning LLC | $45,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015164531NAL0005453729001, received 2025-10-15, EIN 41-2015127, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.