Sumitomo Electric Wiring Systems, Inc. 401(k) Review & Grade
Sumitomo Electric Wiring Systems, Inc. 401(k) Retirement Savings Plan
Bowling Green, KYManufacturing1,812 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,513Employer $ per active participant
$4,768Employee $ saved per active participant
0.23%Direct admin cost, % of plan assets
$193.8MNet plan assets, end of year
$90,910Average balance per account
Score breakdown
- Employer generosity27.1 / 5054th percentile for employer $ per participant
- Low cost12.6 / 2551th percentile for low admin cost vs. same-size plans
- Employee saving7.1 / 1548th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score57 / 100 · Grade C
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 54th |
| Lower admin cost | 51th |
| Employee saving | 48th |
| Peers that auto-enroll | 59% |
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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
- Sumitomo Electric Wiring Systems put in about $2,513 per active participant, more than the typical peer ($2,320). 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.
- 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 | $4,553,357 |
| Participant (employee) contributions | $8,639,566 |
| Other contributions (incl. rollovers in) | $1,917,726 |
| Administrative expenses paid from the plan | $409,649 |
| Contract administrator fees | $80 |
| Investment advisory & management fees | $56,937 |
| Other admin expenses | $123,959 |
| Benefits paid out | $14,744,188 |
| Net assets, start / end of year | $170.1M / $193.8M |
| Active participants, start / end of year | 1,763 / 1,861 |
| Participants with account balances | 2,132 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Boris Benic and Associates LLC |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company | $211,548 reported compensation |
| Capfinancial Partners LLC DBA Captr | $56,937 reported compensation |
| Boris Benic and Associates LLP | $17,125 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250725133250NAL0008821072001, received 2025-07-25, EIN 13-3365815, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.