Sweetwater Sound, LLC 401(k) Review & Grade
Sweetwater 401(k) and Profit Sharing Plan
Fort Wayne, INRetail Trade2,586 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,339Employer $ per active participant
$3,937Employee $ saved per active participant
0.31%Direct admin cost, % of plan assets
$105.8MNet plan assets, end of year
$37,722Average balance per account
Score breakdown
- Employer generosity38.2 / 5076th percentile for employer $ per participant
- Low cost5.6 / 2522th percentile for low admin cost vs. same-size plans
- Employee saving11.5 / 1577th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score62 / 100 · Grade B
This plan vs. peers
Peers: Retail Trade plans with 2,500–9,999 active participants (183 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 76th |
| Lower admin cost | 22th |
| Employee saving | 77th |
| Peers that auto-enroll | 42% |
Get the monthly 401(k) report card
The best and worst plans, new grades as filings post. One email a month, no spam.
Red flags from the filing
Corrective distributions: the plan refunded $54,094 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Sweetwater Sound put in about $1,339 per active participant, more than the typical peer ($650). 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.
- Direct plan expenses (0.31% 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.
- 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 | $3,463,854 |
| Participant (employee) contributions | $10,181,876 |
| Other contributions (incl. rollovers in) | $1,238,861 |
| Administrative expenses paid from the plan | $290,948 |
| Contract administrator fees | $900 |
| Investment advisory & management fees | $91,186 |
| Benefits paid out | $7,069,483 |
| Net assets, start / end of year | $84.3M / $105.8M |
| Active participants, start / end of year | 2,426 / 2,746 |
| Participants with account balances | 2,804 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Katz Sapper and Miller LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $199,762 reported compensation |
| Merrill Lynch, Pierce, Fenner & SM | $64,000 reported compensation |
| Strategic Advisors, Inc. | $27,186 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251121082040NAL0006399009001, received 2025-11-21, EIN 35-2023299, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.