Sprayfoam Southwest, Inc. 401(k) Review & Grade
Sprayfoam Southwest, Inc. 401(k) Plan
Phoenix, AZConstruction505 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$718Employer $ per active participant
$1,095Employee $ saved per active participant
1.03%Direct admin cost, % of plan assets
$5.1MNet plan assets, end of year
$11,070Average balance per account
Score breakdown
- Employer generosity11.7 / 5023th percentile for employer $ per participant
- Low cost1.5 / 256th percentile for low admin cost vs. same-size plans
- Employee saving1.4 / 1510th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score15 / 100 · Grade F
This plan vs. peers
Peers: Construction plans with 500–2,499 active participants (498 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 23th |
| Lower admin cost | 6th |
| Employee saving | 10th |
| Peers that auto-enroll | 44% |
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Red flags from the filing
Corrective distributions: the plan refunded $73,634 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Sprayfoam Southwest put in about $718 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.
- Direct plan expenses (1.03% 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.
- 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 | $362,560 |
| Participant (employee) contributions | $553,159 |
| Other contributions (incl. rollovers in) | $166,171 |
| Administrative expenses paid from the plan | $44,978 |
| Contract administrator fees | $43,310 |
| Investment advisory & management fees | $1,668 |
| Benefits paid out | $375,878 |
| Net assets, start / end of year | $3.6M / $5.1M |
| Active participants, start / end of year | 492 / 518 |
| Participants with account balances | 461 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Metz CPA, PLLC |
Largest service providers (Schedule C)
| John Hancock | $44,978 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20260415184436NAL0011952131001, received 2026-04-15, EIN 86-0254394, plan #001, plan year 2024-07-01 to 2025-06-30. Verify at efast.dol.gov.