Southeastern Property Management LLC 401(k) Review & Grade
Southeastern Property Management LLC 401(k) Plan
Birmingham, ALReal Estate & Rental686 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,161Employer $ per active participant
$2,488Employee $ saved per active participant
1.05%Direct admin cost, % of plan assets
$15.9MNet plan assets, end of year
$43,171Average balance per account
Score breakdown
- Employer generosity23.4 / 5047th percentile for employer $ per participant
- Low cost1.5 / 256th percentile for low admin cost vs. same-size plans
- Employee saving5.2 / 1534th percentile for employee $ per participant
- Plan features0 / 10No auto-enrollment or default investment reported
Total score30 / 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 | 47th |
| Lower admin cost | 6th |
| Employee saving | 34th |
| Peers that auto-enroll | 47% |
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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
- Southeastern Property Management put in about $1,161 per active participant, below the typical peer ($1,279). 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.
- Direct plan expenses (1.05% 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 | $796,185 |
| Participant (employee) contributions | $1,706,539 |
| Other contributions (incl. rollovers in) | $81,517 |
| Administrative expenses paid from the plan | $153,381 |
| Contract administrator fees | $55,269 |
| Other admin expenses | $98,112 |
| Benefits paid out | $1,679,299 |
| Net assets, start / end of year | $13.3M / $15.9M |
| Active participants, start / end of year | 667 / 705 |
| Participants with account balances | 369 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Black & Pinckard, LLC |
Largest service providers (Schedule C)
| Wells Fargo Advisors LLC | $87,759 reported compensation |
| Transamerica Retirement Solutions | $46,405 reported compensation |
| Black & Pinckard LLC | $11,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251009165014NAL0011405776001, received 2025-10-09, EIN 63-0755228, plan #006, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.