Soave Enterprises, LLC 401(k) Review & Grade
Soave Enterprises L.L.C. Savings and Profit Sharing Plan and Trust
Detroit, MIManagement of Companies826 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,293Employer $ per active participant
$5,029Employee $ saved per active participant
0.24%Direct admin cost, % of plan assets
$58.1MNet plan assets, end of year
$91,947Average balance per account
Score breakdown
- Employer generosity12.6 / 5025th percentile for employer $ per participant
- Low cost12.1 / 2548th percentile for low admin cost vs. same-size plans
- Employee saving6.1 / 1541th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score41 / 100 · Grade D
This plan vs. peers
Peers: Management of Companies plans with 500–2,499 active participants (172 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 25th |
| Lower admin cost | 48th |
| Employee saving | 41th |
| Peers that auto-enroll | 58% |
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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
- Soave Enterprises put in about $1,293 per active participant, below the typical peer ($2,492). 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 | $1,068,372 |
| Participant (employee) contributions | $4,153,679 |
| Other contributions (incl. rollovers in) | $205,860 |
| Administrative expenses paid from the plan | $132,489 |
| Benefits paid out | $10,428,674 |
| Net assets, start / end of year | $51.3M / $58.1M |
| Active participants, start / end of year | 605 / 1,047 |
| Participants with account balances | 632 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Alan C Young & Associates, PC |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company O | $166,491 reported compensation |
| Gregory J Schwartz & Company Inc | $71,566 reported compensation |
| Cetera Investment Advisers LLC | $8,915 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015074511NAL0008220162001, received 2025-10-15, EIN 38-3389446, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.