Massachusetts › Retail trade › 1,000 to 4,999 participants
Form 5500 statement · plan year 1 Jan 2025 to 31 Dec 2025
Sullivan Companies Retirement Trust
Sponsored by Sullivan Investment Co., Inc., Norwell, MA
Form 5500 information is as filed by the plan administrator with the Department of Labor and may be amended. Figures reflect the plan year shown, not current balances. Form 5500 contains no individual account balances. Look up the original filing at EFAST2.
Sullivan Investment Co., Inc. of Norwell, Massachusetts sponsors Sullivan Companies Retirement Trust, a profit-sharing plan. Its Form 5500 for the plan year ending 31 Dec 2025 shows 1,701 participants (1,323 active) and $117M in net assets.
Net assets came to $60,578 per participant in plan year 2024, above the $50,295 median for defined contribution plans with 1,000 to 4,999 participants and well above the $36,708 median for defined contribution plans in retail trade. The figure is an average across everyone in the plan, including former employees with small balances; Form 5500 holds no individual account data.
The employer contributed $950K during the year, or $718 per active participant against a same-size median of $2,045; participants contributed $6.3M and $339K arrived as rollovers and other contributions. Benefits paid out totalled $9.5M.
Schedule C lists 3 service provider organisations paid $5,000 or more, with reported compensation of $461K: $271 per participant, well above the same-size median of $82.08. Administrative expenses charged to the plan were $436K. Schedule C does not capture every cost: fees netted from fund returns and fees the employer pays directly are outside it.
Across the filings on record, net assets went from $28.0M in 2009 to $117M in 2025 (up 317%), and participants from 725 to 1,701 (up 135%).
The independent accountant's opinion on the financial statements was unmodified (unqualified), from an audit whose scope was limited under ERISA section 103(a)(3)(C) to exclude investment information certified by a bank or insurer.
Compared with similar plans
| Measure, plan year 2024 | This plan | Same size | Same industry | All US DC plans |
|---|---|---|---|---|
| Net assets per participant | $60,578 | $50,295 | $36,708 | $53,102 |
| Employer contributions per active participant | $825 | $2,045 | $999 | $2,175 |
| Schedule C compensation per participant | $236 | $82.08 | $121 | $123 |
| Schedule C compensation, share of net assets | 0.39% | 0.17% | 0.36% | 0.26% |
| Administrative expenses per participant | $261 | $82.20 | $114 | $116 |
Peer columns are medians for plan year 2024 across defined contribution plans with 100 or more participants: 1,000 to 4,999 participants (10,207 plans), retail trade (3,794) and all US plans (63,460). Fee medians cover plans that report an amount.
Trend by plan year
| Plan year | Participants | Net assets | Per participant | Employer contributions | Participant contributions | Schedule C compensation |
|---|---|---|---|---|---|---|
| 2025 | 1,701 | $117M | $68,530 | $950K | $6.3M | $461K |
| 2024 | 1,699 | $103M | $60,579 | $1.1M | $5.8M | $402K |
| 2023 | 1,589 | $93.5M | $58,828 | $1.0M | $5.2M | $479K |
| 2022 | 1,516 | $79.2M | $52,249 | $1.2M | $4.6M | $138K |
| 2021 | 1,404 | $99.1M | $70,603 | $1.1M | $4.0M | $122K |
| 2020 | 1,517 | $91.1M | $60,038 | $755K | $3.7M | $88K |
| 2019 | 1,397 | $78.9M | $56,454 | $1.1M | $4.0M | $24K |
| 2018 | 1,372 | $64.5M | $47,030 | $1.1M | $3.2M | $26K |
| 2017 | 1,062 | $65.4M | $61,601 | $845K | $2.7M | $18K |
| 2016 | 1,069 | $57.2M | $53,475 | $833K | $2.6M | $37K |
| 2015 | 1,020 | $53.7M | $52,677 | $913K | $2.5M | $50K |
| 2014 | 996 | $52.7M | $52,927 | $400K | $2.4M | $20K |
| 2013 | 961 | $49.0M | $50,989 | $875K | $2.3M | $11K |
| 2012 | 914 | $40.4M | $44,249 | $842K | $2.1M | $5,000 |
| 2011 | 830 | $34.6M | $41,690 | $1.2M | $2.0M | $21K |
| 2010 | 754 | $33.1M | $43,960 | $996K | $1.9M | $22K |
| 2009 | 725 | $28.0M | $38,592 | $762K | $1.6M | $18K |
Years in which the plan filed the full Form 5500 with 100 or more participants, from 2009. Plan year is the year in which the plan year began.
Statement for the year
- Net assets, beginning of year$102,922,806
- Employer contributions$949,577
- Participant contributions$6,278,720
- Rollovers and other contributions$339,328
- Total contributions$7,567,625
- Total income, including investment results$23,563,420
- Benefits paid$9,474,395
- Administrative expenses$436,427
- Total expenses$9,916,638
- Net income$13,646,782
- Net transfers$0
- Net assets, end of year$116,569,588
Participants
- Active participants1,323
- Retired or separated, receiving benefits24
- Retired or separated, entitled to future benefits336
- Participants with account balances1,646
- Total participants, end of year1,701
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| John Hancock | Recordkeeping and information management; Participant loan processing | $369,483 | $0 |
| Merrill Lynch, Pierce, Fenner and S | Recordkeeping and information management | $77,500 | $0 |
| Withumsmith+brown, PC | Investment advisory (plan) | $13,998 | $0 |
Schedule C, Part I line 2: providers that received $5,000 or more, with the form's own service codes. Individuals named on Schedule C (plan employees, individual trustees) are never shown and their compensation is excluded. Eligible indirect compensation disclosed by formula carries no dollar amount. See how to read Schedule C fees.
Administrative expenses on Schedule H
- Contract administrator fees$178,223
- Other administrative expenses$143,660
- Investment advisory and management fees$100,546
- IQPA audit fees$13,998
- Total administrative expenses$436,427
Investment structure
Assets at year end by Schedule H category. The form shows the kind of vehicle holding the money, not the funds on the menu.
- Registered investment companies (mutual funds)$115M · 98.2%
- Participant loans$2.1M · 1.8%
- Receivables$16K · 0.0%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)Yes
- Accounting firmWithum Smith and Brown PC
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $500,000
- Blackout period during the yearNo
These are the plan administrator's own answers on Schedule H, Part IV. A reported late transmittal is the filer's disclosure of a timing lapse, usually corrected through the Department of Labor's voluntary program; the amount is the total involved, not a loss.
Plan characteristics
2AAge/service weighted or new comparability or similar plan2EProfit-sharing plan2FERISA section 404(c) plan2GTotal participant-directed account plan2HPartial participant-directed account plan2KCode section 401(m) arrangement2S401(k) plan or 403(b) plan that provides for automatic enrollment2TTotal or partial participant-directed account plan with a default investment account
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 441300: Automotive Parts, Accessories, & Tire Stores.
Other plans of Sullivan Investment Co., Inc.
| Plan | Participants | Net assets |
|---|---|---|
| 859 US Employee Stock Ownership Plan | 1,315 | −$50.0M |
Similar plans in Massachusetts
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Primark US 401(k) Plan | Primark US Corp. | 1,873 | $22.7M | $12,115 |
| Balise Motor Sales Company 401(k) Retirement Plan | Balise Motor Sales Company | 1,435 | $44.9M | $31,309 |
| McGovern Auto Group 401(k) Savings Plan | McGovern Auto Group Corp. Services, Inc. | 1,928 | $41.3M | $21,408 |
| Fuelloc 401(k) | Diesel Direct | 1,417 | $33.9M | $23,951 |
| Clarks Americas, Inc. Savings Plan | C & J Clark America, Inc. | 1,950 | $70.4M | $36,127 |
| Simplisafe 401(k) Plan | Simplisafe, Inc. | 1,413 | $55.3M | $39,164 |
Defined contribution plans in retail trade closest in size.
Questions and answers
How big is Sullivan Companies Retirement Trust?
1,701 participants at the end of the plan year ending 31 Dec 2025, of whom 1,323 were active employees, with net assets of $116,569,588. Among defined contribution plans that places it in the 1,000 to 4,999 participants band, which held 10,207 plans in plan year 2024.
What does Sullivan Investment Co., Inc. contribute per participant?
The filing reports $949,577 in employer contributions for the year, which is $718 per active participant; the median for plans of the same type and size was $2,045 in plan year 2024. Form 5500 reports the total only. It does not state the match formula, and the per-participant figure is an average, not any one person's contribution.
What fees does the plan pay and how do they compare?
Schedule C reports $460,981 in compensation to service provider organisations, $271 per participant or 0.40% of net assets. The same-size median among plans reporting any Schedule C compensation was $82.08 per participant. Administrative expenses on Schedule H were $436,427. Investment costs deducted inside mutual funds and other pooled vehicles are not itemised on Form 5500, so these figures are a floor rather than a full cost.
Who runs the plan?
The sponsor is Sullivan Investment Co., Inc.. Recordkeeping or administration: John Hancock and Merrill Lynch, Pierce, Fenner and S. Investment advisory or management: Withumsmith+brown, PC. The financial statements were audited by Withum Smith and Brown PC. Form 5500 also names the plan administrator's signer and other individuals; this site publishes organisations only.
Was the audit opinion unqualified?
The filing reports an unmodified (unqualified) opinion from a limited-scope audit, in which the accountant did not audit investment information certified by a bank or insurance company. Unmodified (formerly "unqualified") is the standard clean opinion.
How current is this, and does it show my balance?
This is the Form 5500 for the plan year 1 Jan 2025 to 31 Dec 2025, received by the Department of Labor on 24 Jul 2026. Filings are due seven months after the plan year ends, or nine and a half with an extension, so the public record always runs a year or more behind. It contains plan-level totals only: no individual balances, contributions or names of participants exist in the data.
Provenance
Source: U.S. Department of Labor, Employee Benefits Security Administration, Form 5500 research files (Form 5500, Schedule H, Schedule C) for plan years 2009 to 2025, public domain, with filings received through 24 Aug 2026. This page shows the latest filing on record for EIN 04-2682840, plan 001, received 24 Jul 2026; an amended filing replaces it at the next build. Medians and percentiles are computed by this site; see the methodology. Report an error through corrections.