Wharton-Smith, Inc. 401(k) Review & Grade
Wharton-Smith, Inc. 401(k) Plan and Trust
Sanford, FLConstruction768 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$6,057Employer $ per active participant
$8,926Employee $ saved per active participant
0.33%Direct admin cost, % of plan assets
$82.2MNet plan assets, end of year
$82,289Average balance per account
Score breakdown
- Employer generosity45.6 / 5091th percentile for employer $ per participant
- Low cost9.4 / 2538th 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 score79 / 100 · Grade A
This plan vs. peers
Peers: Construction plans with 500–2,499 active participants (498 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 91th |
| Lower admin cost | 38th |
| Employee saving | 90th |
| 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
- Wharton-Smith put in about $6,057 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.
- 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 | $4,654,421 |
| Participant (employee) contributions | $6,859,785 |
| Other contributions (incl. rollovers in) | $1,190,543 |
| Administrative expenses paid from the plan | $243,337 |
| Investment advisory & management fees | $105,488 |
| Benefits paid out | $7,326,883 |
| Net assets, start / end of year | $67.5M / $82.2M |
| Active participants, start / end of year | 702 / 835 |
| Participants with account balances | 999 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Erin Perdue CPA, Lla |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company | $137,849 reported compensation |
| Ubs Financial Services Inc | $105,488 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014123347NAL0002909825001, received 2025-10-14, EIN 59-2392802, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.