Spitzer Industries, Inc. 401(k) Review & Grade
Spitzer Industries, Inc. Ee's Savings & Profit Sharing Plan
Houston, TXManufacturing538 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,506Employer $ per active participant
$1,414Employee $ saved per active participant
0.57%Direct admin cost, % of plan assets
$16.3MNet plan assets, end of year
$40,324Average balance per account
Score breakdown
- Employer generosity27.1 / 5054th percentile for employer $ per participant
- Low cost4.8 / 2519th percentile for low admin cost vs. same-size plans
- Employee saving0.9 / 156th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score23 / 100 · Grade F
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 54th |
| Lower admin cost | 19th |
| Employee saving | 6th |
| Peers that auto-enroll | 59% |
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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 ($80,354 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $14,549 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Spitzer Industries put in about $2,506 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.
- Direct plan expenses (0.57% of assets) are well above similar-size plans (0.23%). 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.
- 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 | $1,346,889 |
| Participant (employee) contributions | $759,789 |
| Other contributions (incl. rollovers in) | $166,222 |
| Administrative expenses paid from the plan | $84,586 |
| Contract administrator fees | $39,167 |
| Investment advisory & management fees | $45,419 |
| Benefits paid out | $1,360,081 |
| Net assets, start / end of year | $13.4M / $16.3M |
| Active participants, start / end of year | 522 / 553 |
| Participants with account balances | 403 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Melton and Melton |
Largest service providers (Schedule C)
| Stephens Group Asset Management | $41,827 reported compensation |
| John Hancock Retirement Plan Svrcs | $39,970 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015125103NAL0006144752001, received 2025-10-15, EIN 76-0495186, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.