Soprema, Inc. 401(k) Review & Grade
Soprema-Convoy USA 401(k) Plan
Wadsworth, OHWholesale Trade788 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,430Employer $ per active participant
$4,739Employee $ saved per active participant
0.10%Direct admin cost, % of plan assets
$54.2MNet plan assets, end of year
$90,460Average balance per account
Score breakdown
- Employer generosity31.9 / 5064th percentile for employer $ per participant
- Low cost18.5 / 2574th percentile for low admin cost vs. same-size plans
- Employee saving7.7 / 1551th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score61 / 100 · Grade B
This plan vs. peers
Peers: Wholesale Trade plans with 500–2,499 active participants (603 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 64th |
| Lower admin cost | 74th |
| Employee saving | 51th |
| 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
- Soprema put in about $2,430 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.
- 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 | $1,914,753 |
| Participant (employee) contributions | $3,734,522 |
| Other contributions (incl. rollovers in) | $999,965 |
| Administrative expenses paid from the plan | $48,414 |
| Investment advisory & management fees | $48,414 |
| Benefits paid out | $6,483,436 |
| Net assets, start / end of year | $43.1M / $54.2M |
| Active participants, start / end of year | 807 / 769 |
| Participants with account balances | 599 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Clifton Larson Allen, LLP |
Largest service providers (Schedule C)
| Cbiz Investment Advisory Services L | $87,012 reported compensation |
| Empower Annuity Insurance Company | $43,122 reported compensation |
| Rea & Associates | $27,029 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250912092048NAL0000838033001, received 2025-09-12, EIN 34-1672818, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.