The Spinx Company, Inc. 401(k) Review & Grade
The Spinx Company, Inc. 401(k) Retirement Savings Plan
Greenville, SCRetail Trade952 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,666Employer $ per active participant
$2,786Employee $ saved per active participant
0.61%Direct admin cost, % of plan assets
$39.3MNet plan assets, end of year
$33,169Average balance per account
Score breakdown
- Employer generosity45.9 / 5092th percentile for employer $ per participant
- Low cost4.3 / 2517th percentile for low admin cost vs. same-size plans
- Employee saving6.9 / 1546th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score64 / 100 · Grade B
This plan vs. peers
Peers: Retail Trade plans with 500–2,499 active participants (719 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 92th |
| Lower admin cost | 17th |
| Employee saving | 46th |
| Peers that auto-enroll | 48% |
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Red flags from the filing
Corrective distributions: the plan refunded $21 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Spinx Company put in about $2,666 per active participant, more than the typical peer ($743). 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 (0.61% of assets) are well above similar-size plans (0.23%). 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 | $2,539,603 |
| Participant (employee) contributions | $2,653,348 |
| Other contributions (incl. rollovers in) | $64,682 |
| Administrative expenses paid from the plan | $220,228 |
| Contract administrator fees | $183,789 |
| Investment advisory & management fees | $36,439 |
| Benefits paid out | $3,574,659 |
| Net assets, start / end of year | $33.0M / $39.3M |
| Active participants, start / end of year | 948 / 957 |
| Participants with account balances | 1,185 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Armanino LLP |
Largest service providers (Schedule C)
| Stancorp Financial Group | $184,727 reported compensation |
| Kestra Advisory Services, LLC | $36,439 reported compensation |
| Reliance Trust Company | $5,202 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250924190544NAL0009007344001, received 2025-09-24, EIN 57-0551551, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.