Sunstates Security, LLC 401(k) Review & Grade
Sunstates Security Retirement Savings Plan
Raleigh, NCAdministrative, Support & Staffing Services3,542 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$75Employer $ per active participant
$354Employee $ saved per active participant
0.63%Direct admin cost, % of plan assets
$6.8MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity16.1 / 5032th percentile for employer $ per participant
- Low cost2.3 / 259th percentile for low admin cost vs. same-size plans
- Employee saving3.6 / 1524th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score15 / 100 · Grade F
This plan vs. peers
Peers: Administrative, Support & Staffing Services plans with 2,500–9,999 active participants (125 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 32th |
| Lower admin cost | 9th |
| Employee saving | 24th |
| Peers that auto-enroll | 22% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($53,821 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- Sunstates Security put in about $75 per active participant, below the typical peer ($342). 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.
- Direct plan expenses (0.63% of assets) are well above similar-size plans (0.12%). 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 reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- 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 | $264,620 |
| Participant (employee) contributions | $1,253,293 |
| Other contributions (incl. rollovers in) | $116,160 |
| Administrative expenses paid from the plan | $38,554 |
| Contract administrator fees | $38,554 |
| Benefits paid out | $1,019,036 |
| Net assets, start / end of year | $5.5M / $6.8M |
| Active participants, start / end of year | 3,263 / 3,822 |
| Participants with account balances | 585 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Plante & Moran, PLLC |
Largest service providers (Schedule C)
| Ascensus Holdings,inc DBA Futurepla | $29,704 reported compensation |
| Empower Annuity Ins Co | $25,859 reported compensation |
| Mma Securities LLC | $14,252 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251011142322NAL0005152275001, received 2025-10-11, EIN 56-2053968, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.