Spee Dee Delivery Service, Inc. 401(k) Review & Grade
Spee Dee Delivery Service, Inc Retirement Plan
ST Cloud, MNTransportation & Warehousing1,338 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$285Employer $ per active participant
$1,565Employee $ saved per active participant
0.11%Direct admin cost, % of plan assets
$52.9MNet plan assets, end of year
$71,107Average balance per account
Score breakdown
- Employer generosity7.0 / 5014th percentile for employer $ per participant
- Low cost17.8 / 2571th percentile for low admin cost vs. same-size plans
- Employee saving3.5 / 1523th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score18 / 100 · Grade F
This plan vs. peers
Peers: Transportation & Warehousing plans with 500–2,499 active participants (392 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 14th |
| Lower admin cost | 71th |
| Employee saving | 23th |
| Peers that auto-enroll | 37% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($160,960 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $29,815 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Spee Dee Delivery Service put in about $285 per active participant, below the typical peer ($1,070). 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.
- The plan reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- 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 | $380,879 |
| Participant (employee) contributions | $2,094,495 |
| Other contributions (incl. rollovers in) | $11,117 |
| Administrative expenses paid from the plan | $60,082 |
| Contract administrator fees | $10,353 |
| Investment advisory & management fees | $30,514 |
| Benefits paid out | $7,038,095 |
| Net assets, start / end of year | $54.0M / $52.9M |
| Active participants, start / end of year | 1,536 / 1,141 |
| Participants with account balances | 744 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Bergankdv, LTD |
| Employer stock held by plan | $19,811,531 |
Largest service providers (Schedule C)
| Wealth Management | $30,514 reported compensation |
| Pentegra Services | $18,854 reported compensation |
| Reliance Trust | $6,185 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015160341NAL0002597795001, received 2025-10-15, EIN 41-1530767, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.