Sukup Manufacturing Co. 401(k) Review & Grade
Sukup Manufacturing Company 401(k) Profit Sharing Plan
Sheffield, IAManufacturing820 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$4,917Employer $ per active participant
$3,614Employee $ saved per active participant
0.51%Direct admin cost, % of plan assets
$85.2MNet plan assets, end of year
$97,513Average balance per account
Score breakdown
- Employer generosity41.1 / 5082th percentile for employer $ per participant
- Low cost5.7 / 2523th percentile for low admin cost vs. same-size plans
- Employee saving4.7 / 1532th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score62 / 100 · Grade B
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 82th |
| Lower admin cost | 23th |
| Employee saving | 32th |
| Peers that auto-enroll | 59% |
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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
- Sukup Manufacturing put in about $4,917 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 (0.51% 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 auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- 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 | $4,034,490 |
| Participant (employee) contributions | $2,965,411 |
| Other contributions (incl. rollovers in) | $1,515,684 |
| Administrative expenses paid from the plan | $407,266 |
| Contract administrator fees | $42,905 |
| Investment advisory & management fees | $38,448 |
| Benefits paid out | $4,397,903 |
| Net assets, start / end of year | $75.4M / $85.2M |
| Active participants, start / end of year | 794 / 847 |
| Participants with account balances | 874 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Uhy LLP |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $42,904 reported compensation |
| Principal Securities Inc | $38,543 reported compensation |
| Uhy LLP | $13,195 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20260715065512NAL0003438018001, received 2026-07-15, EIN 42-0896595, plan #001, plan year 2024-10-01 to 2025-09-30. Verify at efast.dol.gov.