Schmitty & Sons School Buses, Inc.401(k)
SCHMITTY & SONS SCHOOL BUSES, INC. 401(K) PLAN · LAKEVILLE, MN · plan year 2022
Peer grade: C · admin costs + employer contributions vs same-size plans · how grading works
Schmitty & Sons School Buses, Inc. reported $90,607 in plan administrative expenses for 2022: 0.94% of average plan assets, higher than ~75% of peers. Employer contributions averaged $1,047 per active participant. This ratio covers administrative expenses reported on the plan's Schedule H only; fund-level expense ratios are not included in public structured data — see methodology.
The plan sits in the $1M–$10M size bracket, benchmarked here against 30,021 comparable plans and shown alongside other transportation & warehousing employers. By assets it is among the smaller plans on file in Minnesota (1,290th of 1,918), and the 1,138th of 2,677 in transportation & warehousing. In 2022, employees put in $2.08 for every $1.00 the employer contributed.
Schmitty & Sons School Buses, Inc.'s 2022 employer contribution ran below the $1,114 median for plans its size. Filings report dollars actually contributed, not the match formula; the formula itself (for example, 50% of the first 6% of pay) lives in the plan's summary plan description from HR.
Annual cost at the plan's reported 2022 administrative ratio, against the median plan its size; fund expense ratios are extra. Compare any plan.
Why are you looking at this plan?
Source: U.S. Department of Labor, Form 5500 series, EIN 410879274 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.