Smarte Carte, Inc. 401(k) Review & Grade
Smarte Carte, Inc. 401(k) Plan
Saint Paul, MNReal Estate & Rental880 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,315Employer $ per active participant
$3,063Employee $ saved per active participant
0.25%Direct admin cost, % of plan assets
$30.2MNet plan assets, end of year
$29,767Average balance per account
Score breakdown
- Employer generosity25.9 / 5052th percentile for employer $ per participant
- Low cost11.9 / 2548th percentile for low admin cost vs. same-size plans
- Employee saving6.5 / 1543th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score44 / 100 · Grade D
This plan vs. peers
Peers: Real Estate & Rental plans with 500–2,499 active participants (291 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 52th |
| Lower admin cost | 48th |
| Employee saving | 43th |
| Peers that auto-enroll | 47% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($2,704 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- Smarte Carte put in about $1,315 per active participant, more than the typical peer ($1,279). 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.
- The plan reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- 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 | $1,156,386 |
| Participant (employee) contributions | $2,693,795 |
| Other contributions (incl. rollovers in) | $126,996 |
| Administrative expenses paid from the plan | $68,498 |
| Investment advisory & management fees | $27,982 |
| Benefits paid out | $2,788,853 |
| Net assets, start / end of year | $25.2M / $30.2M |
| Active participants, start / end of year | 881 / 878 |
| Participants with account balances | 1,015 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Redpath and Company ,LLC |
Largest service providers (Schedule C)
| Redpath and Company LLC | $32,537 reported compensation |
| Global Retirement Partners LLC | $27,982 reported compensation |
| Empower Annuity Insurance Company O | $7,979 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250724091120NAL0004440705001, received 2025-07-24, EIN 41-0965374, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.