Southworth-Milton Inc 401(k) Review & Grade
Milton Cat 401(k) Plan
Milford, MAWholesale Trade1,342 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3,487Employer $ per active participant
$9,346Employee $ saved per active participant
0.12%Direct admin cost, % of plan assets
$156.8MNet plan assets, end of year
$90,533Average balance per account
Score breakdown
- Employer generosity39.9 / 5080th percentile for employer $ per participant
- Low cost17.4 / 2569th percentile for low admin cost vs. same-size plans
- Employee saving13.8 / 1592th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score78 / 100 · Grade A
This plan vs. peers
Peers: Wholesale Trade plans with 500–2,499 active participants (603 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 80th |
| Lower admin cost | 69th |
| Employee saving | 92th |
| 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
Corrective distributions: the plan refunded $32,466 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Southworth-Milton put in about $3,487 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.
- 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 | $4,680,759 |
| Participant (employee) contributions | $12,546,825 |
| Other contributions (incl. rollovers in) | $4,055,882 |
| Administrative expenses paid from the plan | $171,738 |
| Investment advisory & management fees | $65,363 |
| Benefits paid out | $10,879,508 |
| Net assets, start / end of year | $128.5M / $156.8M |
| Active participants, start / end of year | 1,304 / 1,381 |
| Participants with account balances | 1,732 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Ambrosi Donahue Congdon & Co., P.C. |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $106,375 reported compensation |
| Strategic Advisors, Inc. | $65,363 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250923182655NAL0002701427001, received 2025-09-23, EIN 02-0258444, plan #008, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.