Sumitomo Corporation of Americas 401(k) Review & Grade
Linder Industrial Machinery 401(k) Retirement Plan
New York, NYRetail Trade684 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$4,073Employer $ per active participant
$5,814Employee $ saved per active participant
0.20%Direct admin cost, % of plan assets
$55.2MNet plan assets, end of year
$56,531Average balance per account
Score breakdown
- Employer generosity48.7 / 5097th percentile for employer $ per participant
- Low cost13.8 / 2555th percentile for low admin cost vs. same-size plans
- Employee saving13.5 / 1590th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score86 / 100 · Grade A
This plan vs. peers
Peers: Retail Trade plans with 500–2,499 active participants (719 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 97th |
| Lower admin cost | 55th |
| Employee saving | 90th |
| Peers that auto-enroll | 48% |
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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
- Sumitomo Corporation of Americas put in about $4,073 per active participant, more than the typical peer ($743). 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.
- 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 | $2,785,649 |
| Participant (employee) contributions | $3,976,996 |
| Other contributions (incl. rollovers in) | $256,975 |
| Administrative expenses paid from the plan | $100,367 |
| Investment advisory & management fees | $4,636 |
| Benefits paid out | $5,577,450 |
| Net assets, start / end of year | $47.6M / $55.2M |
| Active participants, start / end of year | 639 / 729 |
| Participants with account balances | 976 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Lbmc PC |
Largest service providers (Schedule C)
| Transamerica Retirement Solutions | $75,833 reported compensation |
| Lbmc, PC | $16,300 reported compensation |
| National Financial Services | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014171813NAL0007009058002, received 2025-10-14, EIN 13-5612163, plan #004, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.