Suit-Kote Corporation 401(k) Review & Grade
Suit-Kote Corporation Employees' Retirement Plan
Cortland, NYConstruction721 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,711Employer $ per active participant
$5,101Employee $ saved per active participant
0.26%Direct admin cost, % of plan assets
$83.7MNet plan assets, end of year
$90,084Average balance per account
Score breakdown
- Employer generosity36.1 / 5072th percentile for employer $ per participant
- Low cost11.4 / 2546th percentile for low admin cost vs. same-size plans
- Employee saving9.8 / 1566th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score60 / 100 · Grade B
This plan vs. peers
Peers: Construction plans with 500–2,499 active participants (498 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 72th |
| Lower admin cost | 46th |
| Employee saving | 66th |
| Peers that auto-enroll | 44% |
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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
- Suit-Kote put in about $2,711 per active participant, more than the typical peer ($1,672). 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 | $1,954,386 |
| Participant (employee) contributions | $3,678,154 |
| Other contributions (incl. rollovers in) | $99,779 |
| Administrative expenses paid from the plan | $205,851 |
| Investment advisory & management fees | $148,232 |
| Other admin expenses | $300 |
| Benefits paid out | $6,712,054 |
| Net assets, start / end of year | $74.1M / $83.7M |
| Active participants, start / end of year | 721 / 721 |
| Participants with account balances | 929 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Dannible & Mckee, LLP |
Largest service providers (Schedule C)
| LPL Financial, LLC | $148,232 reported compensation |
| Empower Life & Annuity Insurance Co | $41,819 reported compensation |
| Dannible & Mckee, LLP | $15,500 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251010184358NAL0013105632001, received 2025-10-10, EIN 16-1177189, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.