Spencer Gifts LLC 401(k) Review & Grade
Spencer Gifts LLC 401(k) Plan
Egg Harbor Township, NJRetail Trade4,266 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$954Employer $ per active participant
$1,883Employee $ saved per active participant
0.28%Direct admin cost, % of plan assets
$71.0MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity31.0 / 5062th percentile for employer $ per participant
- Low cost6.2 / 2525th percentile for low admin cost vs. same-size plans
- Employee saving7.2 / 1548th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score47 / 100 · Grade C
This plan vs. peers
Peers: Retail Trade plans with 2,500–9,999 active participants (183 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 62th |
| Lower admin cost | 25th |
| Employee saving | 48th |
| Peers that auto-enroll | 42% |
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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
- Spencer Gifts put in about $954 per active participant, more than the typical peer ($650). 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.
- Direct plan expenses (0.28% of assets) are well above similar-size plans (0.12%). 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 | $4,069,641 |
| Participant (employee) contributions | $8,030,254 |
| Other contributions (incl. rollovers in) | $2,121,486 |
| Administrative expenses paid from the plan | $176,645 |
| Contract administrator fees | $136,674 |
| Investment advisory & management fees | $39,971 |
| Benefits paid out | $5,374,199 |
| Net assets, start / end of year | $54.2M / $71.0M |
| Active participants, start / end of year | 4,309 / 4,222 |
| Participants with account balances | 1,483 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Geltrude & Company,llc |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $144,773 reported compensation |
| Wells Fargo Advisors | $40,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015170215NAL0002674131001, received 2025-10-15, EIN 71-0878043, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.