Service Express, LLC 401(k) Review & Grade
Service Express, LLC 401(k) Plan
Grand Rapids, MIProfessional, Scientific & Technical Services626 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$3,128Employer $ per active participant
$8,900Employee $ saved per active participant
0.44%Direct admin cost, % of plan assets
$61.7MNet plan assets, end of year
$89,104Average balance per account
Score breakdown
- Employer generosity25.4 / 5051th percentile for employer $ per participant
- Low cost6.9 / 2527th percentile for low admin cost vs. same-size plans
- Employee saving7.3 / 1549th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score43 / 100 · Grade D
This plan vs. peers
Peers: Professional, Scientific & Technical Services plans with 500–2,499 active participants (1,469 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 51th |
| Lower admin cost | 27th |
| Employee saving | 49th |
| Peers that auto-enroll | 48% |
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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
- Service Express put in about $3,128 per active participant, more than the typical peer ($3,082). 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 (0.44% 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.
- 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 | $1,956,298 |
| Participant (employee) contributions | $5,567,189 |
| Other contributions (incl. rollovers in) | $774,972 |
| Administrative expenses paid from the plan | $250,478 |
| Contract administrator fees | $16,020 |
| Investment advisory & management fees | $147,340 |
| Benefits paid out | $6,900,515 |
| Net assets, start / end of year | $53.2M / $61.7M |
| Active participants, start / end of year | 621 / 630 |
| Participants with account balances | 692 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Bdo USA PC |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company | $87,118 reported compensation |
| Creative Planning LLC | $77,987 reported compensation |
| Empower Advisory Group LLC | $39,353 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014153830NAL0001627347001, received 2025-10-14, EIN 38-3368786, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.