Steves & Sons Inc. 401(k) Review & Grade
Steves & Sons Employees 401k Profit Sharing Plan
San Antonio, TXManufacturing1,587 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$547Employer $ per active participant
$802Employee $ saved per active participant
0.00%Direct admin cost, % of plan assets
$14.0MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity3.8 / 508th percentile for employer $ per participant
- Low cost24.8 / 2599th percentile for low admin cost vs. same-size plans
- Employee saving0.3 / 152th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score29 / 100 · Grade F
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 8th |
| Lower admin cost | 99th |
| Employee saving | 2th |
| Peers that auto-enroll | 59% |
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Red flags from the filing
Corrective distributions: the plan refunded $108,015 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Steves & Sons put in about $547 per active participant, below the typical peer ($2,320). 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.
- 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 | $867,472 |
| Participant (employee) contributions | $1,272,891 |
| Other contributions (incl. rollovers in) | $0 |
| Administrative expenses paid from the plan | $350 |
| Contract administrator fees | $350 |
| Benefits paid out | $361,111 |
| Net assets, start / end of year | $10.7M / $14.0M |
| Active participants, start / end of year | 1,440 / 1,734 |
| Participants with account balances | 312 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Bdo, LLC |
Largest service providers (Schedule C)
| American United Life Insurance Co | $68,832 reported compensation |
| Global Retirement Partners | $38,341 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250930172138NAL0013526016001, received 2025-09-30, EIN 74-1320441, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.