Spartan Companies, LLC 401(k) Review & Grade
Spartan Companies, LLC 401(k) Plan
Richmond, UTConstruction678 active participantsPlan year 2024
Estimate from the plan's Form 5500-SF filing · How we grade
$431Employer $ per active participant
$1,064Employee $ saved per active participant
0.11%Direct admin cost, % of plan assets
$3.7MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity6.8 / 5014th percentile for employer $ per participant
- Low cost18.2 / 2573th percentile for low admin cost vs. same-size plans
- Employee saving1.4 / 159th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score26 / 100 · Grade F
This plan vs. peers
Peers: Construction plans with 500–2,499 active participants (498 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 14th |
| Lower admin cost | 73th |
| Employee saving | 9th |
| Peers that auto-enroll | 44% |
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 $353,202 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Spartan Companies put in about $431 per active participant, below the typical peer ($1,672). 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.
- 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 | $292,164 |
| Participant (employee) contributions | $721,508 |
| Other contributions (incl. rollovers in) | $33,545 |
| Administrative expenses paid from the plan | $3,355 |
| Benefits paid out | $151,741 |
| Net assets, start / end of year | $2.7M / $3.7M |
| Active participants, start / end of year | 676 / 680 |
| Participants with account balances | 112 |
| Auto-enrollment (feature code 2S) | Not reported |
Source: DOL EFAST2 Form 5500-SF filing, acknowledgment ID 20250428145555NAL0012128449001, received 2025-04-28, EIN 27-0372547, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.