Spraying Systems Co 401(k) Review & Grade
Spraying Systems Co. Employees' Profit Sharing and 401(k) Plan
Wheaton, ILManufacturing1,196 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$4,173Employer $ per active participant
$4,857Employee $ saved per active participant
0.07%Direct admin cost, % of plan assets
$254.9MNet plan assets, end of year
$187,729Average balance per account
Score breakdown
- Employer generosity38.3 / 5077th percentile for employer $ per participant
- Low cost20.5 / 2582th percentile for low admin cost vs. same-size plans
- Employee saving7.3 / 1549th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score66 / 100 · Grade B
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 77th |
| Lower admin cost | 82th |
| Employee saving | 49th |
| Peers that auto-enroll | 59% |
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Red flags from the filing
Corrective distributions: the plan refunded $353 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Spraying Systems put in about $4,173 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.
- 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 | $4,990,596 |
| Participant (employee) contributions | $5,809,205 |
| Other contributions (incl. rollovers in) | $1,406,890 |
| Administrative expenses paid from the plan | $170,668 |
| Benefits paid out | $21,451,938 |
| Net assets, start / end of year | $240.8M / $254.9M |
| Active participants, start / end of year | 1,231 / 1,161 |
| Participants with account balances | 1,358 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Pricewaterhouse Coopers |
Largest service providers (Schedule C)
| Schwab Retirement Plan Services,inc | $132,758 reported compensation |
| Pricewaterhousecoopers LLP | $46,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251010115326NAL0012509872003, received 2025-10-10, EIN 36-1922920, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.