Salem Holding Company 401(k) Review & Grade
Salem Holding Company 401(k) Profit Sharing Plan
Winston-Salem, NCWholesale Trade823 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$664Employer $ per active participant
$3,685Employee $ saved per active participant
0.34%Direct admin cost, % of plan assets
$34.8MNet plan assets, end of year
$37,835Average balance per account
Score breakdown
- Employer generosity6.1 / 5012th percentile for employer $ per participant
- Low cost9.0 / 2536th percentile for low admin cost vs. same-size plans
- Employee saving5.0 / 1534th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score30 / 100 · Grade D
This plan vs. peers
Peers: Wholesale Trade plans with 500–2,499 active participants (603 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 12th |
| Lower admin cost | 36th |
| Employee saving | 34th |
| Peers that auto-enroll | 53% |
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
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Salem Holding put in about $664 per active participant, below the typical peer ($1,792). 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.
- 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 | $546,380 |
| Participant (employee) contributions | $3,032,584 |
| Other contributions (incl. rollovers in) | $65,714 |
| Administrative expenses paid from the plan | $114,975 |
| Contract administrator fees | $114,975 |
| Benefits paid out | $4,612,448 |
| Net assets, start / end of year | $32.3M / $34.8M |
| Active participants, start / end of year | 818 / 828 |
| Participants with account balances | 920 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Smith Leonard PLLC |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $114,975 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20260109091950NAL0013399232001, received 2026-01-09, EIN 56-1740888, plan #001, plan year 2024-07-01 to 2025-06-30. Verify at efast.dol.gov.