Thrifty Retail Services, LLC 401(k) Review & Grade
Serv-U-Success 401(k) Plan
Grandville, MIWholesale Trade1,582 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$343Employer $ per active participant
$983Employee $ saved per active participant
0.40%Direct admin cost, % of plan assets
$24.0MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity2.7 / 505th percentile for employer $ per participant
- Low cost7.5 / 2530th percentile for low admin cost vs. same-size plans
- Employee saving0.6 / 154th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score14 / 100 · Grade F
This plan vs. peers
Peers: Wholesale Trade plans with 500–2,499 active participants (603 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 5th |
| Lower admin cost | 30th |
| Employee saving | 4th |
| Peers that auto-enroll | 53% |
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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
- Thrifty Retail Services put in about $343 per active participant, below the typical peer ($1,792). 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 (0.40% 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.
- 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 | $543,288 |
| Participant (employee) contributions | $1,555,773 |
| Other contributions (incl. rollovers in) | $333,577 |
| Administrative expenses paid from the plan | $89,463 |
| Contract administrator fees | $24,703 |
| Investment advisory & management fees | $52,348 |
| Benefits paid out | $1,686,922 |
| Net assets, start / end of year | $20.4M / $24.0M |
| Active participants, start / end of year | 1,584 / 1,580 |
| Participants with account balances | 497 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Hungerford |
Largest service providers (Schedule C)
| Alerus Financial, N.A. | $33,046 reported compensation |
| Adp, Inc. | $4,070 reported compensation |
| Morningstar Retirement Manager | $1,620 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251007053040NAL0010621554001, received 2025-10-07, EIN 27-3469063, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.