Sovos Brands Intermediate, Inc. 401(k) Review & Grade
Sovos Brands 401(k) Plan
Louisville, COManufacturing756 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3,185Employer $ per active participant
$6,029Employee $ saved per active participant
0.04%Direct admin cost, % of plan assets
$35.4MNet plan assets, end of year
$37,897Average balance per account
Score breakdown
- Employer generosity32.9 / 5066th percentile for employer $ per participant
- Low cost22.7 / 2591th percentile for low admin cost vs. same-size plans
- Employee saving9.6 / 1564th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score72 / 100 · Grade B
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 66th |
| Lower admin cost | 91th |
| Employee saving | 64th |
| Peers that auto-enroll | 59% |
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Red flags from the filing
Corrective distributions: the plan refunded $1,517 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Sovos Brands Intermediate put in about $3,185 per active participant, more than the typical peer ($2,320). 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 | $2,406,122 |
| Participant (employee) contributions | $4,554,663 |
| Other contributions (incl. rollovers in) | $481,892 |
| Administrative expenses paid from the plan | $12,085 |
| Investment advisory & management fees | $3,358 |
| Benefits paid out | $4,925,520 |
| Net assets, start / end of year | $28.6M / $35.4M |
| Active participants, start / end of year | 762 / 749 |
| Participants with account balances | 933 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Plante & Moran, PLLC |
Largest service providers (Schedule C)
| Schwab Retirement Plan Services,inc | $12,085 reported compensation |
| Charles Schwab & Co.,inc. | $204 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014131435NAL0003000849001, received 2025-10-14, EIN 81-4813947, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.