Sun Life Financial U.S. Services Company, Inc. 401(k) Review & Grade
Sun Advantage Savings and Investment Plan
Wellesley Hills, MAFinance & Insurance5,994 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$9,276Employer $ per active participant
$8,530Employee $ saved per active participant
0.08%Direct admin cost, % of plan assets
$1.8BNet plan assets, end of year
$221,487Average balance per account
Score breakdown
- Employer generosity42.9 / 5086th percentile for employer $ per participant
- Low cost16.5 / 2566th percentile for low admin cost vs. same-size plans
- Employee saving7.7 / 1552th percentile for employee $ per participant
- Plan features0 / 10No auto-enrollment or default investment reported
- Red-flag deductions-3 pts1 issue reported on the filing
Total score64 / 100 · Grade B
This plan vs. peers
Peers: Finance & Insurance plans with 2,500–9,999 active participants (199 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 86th |
| Lower admin cost | 66th |
| Employee saving | 52th |
| Peers that auto-enroll | 66% |
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Red flags from the filing
Corrective distributions: the plan refunded $4,307 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Sun Life Financial U.S. Services Company put in about $9,276 per active participant, more than the typical peer ($4,489). 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.
- 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 | $55,593,504 |
| Participant (employee) contributions | $51,123,219 |
| Other contributions (incl. rollovers in) | $9,559,522 |
| Administrative expenses paid from the plan | $1,255,427 |
| Contract administrator fees | $25,850 |
| Investment advisory & management fees | $1,019,443 |
| Other admin expenses | $12,400 |
| Benefits paid out | $108,390,965 |
| Net assets, start / end of year | $1.5B / $1.8B |
| Active participants, start / end of year | 5,996 / 5,991 |
| Participants with account balances | 8,029 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Deloitte & Touche |
Largest service providers (Schedule C)
| Voya Retirement Advisors | $1,019,443 reported compensation |
| Voya Institutional Plan Services | $235,984 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250717200610NAL0000899937001, received 2025-07-17, EIN 26-3730703, plan #005, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.