SPS Companies, Inc. 401(k) Review & Grade
SPS Companies, Inc. Retirement Plan
Manhattan, KSManufacturing624 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,015Employer $ per active participant
$5,738Employee $ saved per active participant
0.23%Direct admin cost, % of plan assets
$62.2MNet plan assets, end of year
$82,624Average balance per account
Score breakdown
- Employer generosity21.9 / 5044th percentile for employer $ per participant
- Low cost12.3 / 2549th percentile for low admin cost vs. same-size plans
- Employee saving9.2 / 1561th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score43 / 100 · Grade D
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 44th |
| Lower admin cost | 49th |
| Employee saving | 61th |
| Peers that auto-enroll | 59% |
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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 ($56,337 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
- SPS Companies put in about $2,015 per active participant, below the typical peer ($2,320). 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.
- 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 | $1,258,100 |
| Participant (employee) contributions | $3,583,343 |
| Other contributions (incl. rollovers in) | $374,704 |
| Administrative expenses paid from the plan | $138,577 |
| Investment advisory & management fees | $30,613 |
| Other admin expenses | $13,563 |
| Benefits paid out | $6,972,164 |
| Net assets, start / end of year | $55.9M / $62.2M |
| Active participants, start / end of year | 606 / 643 |
| Participants with account balances | 753 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Forvis Mazars, LLP |
Largest service providers (Schedule C)
| Bokf, N.A. | $131,665 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250911142237NAL0001457314001, received 2025-09-11, EIN 81-3861862, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.