School Specialty, LLC 401(k) Review & Grade
School Specialty 401(k) Plan
Greenville, WIWholesale Trade1,116 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,944Employer $ per active participant
$6,048Employee $ saved per active participant
0.27%Direct admin cost, % of plan assets
$99.0MNet plan assets, end of year
$66,687Average balance per account
Score breakdown
- Employer generosity27.3 / 5055th percentile for employer $ per participant
- Low cost11.2 / 2545th percentile for low admin cost vs. same-size plans
- Employee saving10.2 / 1568th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score56 / 100 · Grade C
This plan vs. peers
Peers: Wholesale Trade plans with 500–2,499 active participants (603 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 55th |
| Lower admin cost | 45th |
| Employee saving | 68th |
| 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
Corrective distributions: the plan refunded $10,586 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- School Specialty put in about $1,944 per active participant, more than the typical peer ($1,792). 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 | $2,168,256 |
| Participant (employee) contributions | $6,746,303 |
| Other contributions (incl. rollovers in) | $1,974,102 |
| Administrative expenses paid from the plan | $247,404 |
| Contract administrator fees | $153,651 |
| Investment advisory & management fees | $93,753 |
| Benefits paid out | $10,394,498 |
| Net assets, start / end of year | $86.7M / $99.0M |
| Active participants, start / end of year | 1,177 / 1,054 |
| Participants with account balances | 1,485 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Baker Tilly US, LLP |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $154,921 reported compensation |
| Creative Planning, LLC | $93,884 reported compensation |
| Baker Tilly Virchow Krause, LLP | $17,888 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250908125137NAL0012294035001, received 2025-09-08, EIN 85-2162684, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.