Sun Communities, Inc. 401(k) Review & Grade
Sun Communities, Inc. 401(k) Plan
Southfield, MIReal Estate & Rental2,684 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$985Employer $ per active participant
$4,331Employee $ saved per active participant
0.50%Direct admin cost, % of plan assets
$83.5MNet plan assets, end of year
$23,862Average balance per account
Score breakdown
- Employer generosity19.4 / 5039th percentile for employer $ per participant
- Low cost3.3 / 2513th percentile for low admin cost vs. same-size plans
- Employee saving9.5 / 1563th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score32 / 100 · Grade D
This plan vs. peers
Peers: Real Estate & Rental plans with 2,500–9,999 active participants (50 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 39th |
| Lower admin cost | 13th |
| Employee saving | 63th |
| Peers that auto-enroll | 46% |
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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 ($593,747 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
- Sun Communities put in about $985 per active participant, below the typical peer ($1,141). 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.
- Direct plan expenses (0.50% of assets) are well above similar-size plans (0.12%). 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.
- 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 | $2,645,426 |
| Participant (employee) contributions | $11,626,445 |
| Other contributions (incl. rollovers in) | $713,443 |
| Administrative expenses paid from the plan | $388,671 |
| Contract administrator fees | $300 |
| Investment advisory & management fees | $84,078 |
| Benefits paid out | $13,378,277 |
| Net assets, start / end of year | $72.2M / $83.5M |
| Active participants, start / end of year | 2,592 / 2,777 |
| Participants with account balances | 3,499 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Cliftonlarsonallen LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $304,593 reported compensation |
| Gregory J Schwartz & Co Inc | $84,077 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013175118NAL0002533808001, received 2025-10-13, EIN 38-2730780, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.