The J.M. Smucker Company 401(k) Review & Grade
The J.M. Smucker Company Employee Savings Plan
Orrville, OHManufacturing6,996 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$5,820Employer $ per active participant
$7,357Employee $ saved per active participant
0.03%Direct admin cost, % of plan assets
$1.5BNet plan assets, end of year
$137,804Average balance per account
Score breakdown
- Employer generosity38.1 / 5076th percentile for employer $ per participant
- Low cost22.6 / 2591th 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-3 pts1 issue reported on the filing
Total score77 / 100 · Grade A
This plan vs. peers
Peers: Manufacturing plans with 2,500–9,999 active participants (566 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 76th |
| Lower admin cost | 91th |
| Employee saving | 63th |
| Peers that auto-enroll | 70% |
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Red flags from the filing
Corrective distributions: the plan refunded $4,994 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- J.M. Smucker put in about $5,820 per active participant, more than the typical peer ($3,452). 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 | $40,711,062 |
| Participant (employee) contributions | $51,468,116 |
| Other contributions (incl. rollovers in) | $7,092,732 |
| Administrative expenses paid from the plan | $395,829 |
| Other admin expenses | $112,985 |
| Benefits paid out | $150,649,375 |
| Net assets, start / end of year | $1.3B / $1.5B |
| Active participants, start / end of year | 6,105 / 7,886 |
| Participants with account balances | 10,691 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Maloney & Novotny, LLC |
| Employer stock held by plan | $114,503,016 |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $322,248 reported compensation |
| Curcio Webb, LLC | $56,735 reported compensation |
| Aon Investments USA Inc. | $45,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015120454NAL0009118834001, received 2025-10-15, EIN 34-0538550, plan #011, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.