Michigan › Manufacturing › 250 to 499 participants
Form 5500 statement · plan year 1 Jan 2025 to 31 Dec 2025
Scott Group Custom Carpets, LLC 401(k) Plan
Sponsored by Scott Group Custom Carpets, LLC, Grand Rapids, MI
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.
In the plan year ending 31 Dec 2025, Scott Group Custom Carpets, LLC 401(k) Plan covered 257 participants and held $15.6M in net assets. The plan is a 401(k) plan sponsored by Scott Group Custom Carpets, LLC of Grand Rapids, Michigan.
Net assets came to $60,864 per participant in plan year 2024, above the $48,746 median for defined contribution plans with 250 to 499 participants and close to the $62,303 median for defined contribution plans in manufacturing. 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 $223K during the year, or $1,012 per active participant against a same-size median of $2,017; participants contributed $1.2M and $17K arrived as rollovers and other contributions. Benefits paid out totalled $3.5M.
Schedule C lists 3 service provider organisations paid $5,000 or more, with reported compensation of $79K: $306 per participant, well above the same-size median of $141. Administrative expenses charged to the plan were $79K. 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 $5.2M in 2014 to $15.6M in 2025 (up 200%), and participants from 179 to 257 (up 44%).
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 | $60,864 | $48,746 | $62,303 | $53,102 |
| Employer contributions per active participant | $961 | $2,017 | $2,187 | $2,175 |
| Schedule C compensation per participant | $275 | $141 | $136 | $123 |
| Schedule C compensation, share of net assets | 0.45% | 0.30% | 0.24% | 0.26% |
| Administrative expenses per participant | $294 | $133 | $131 | $116 |
Peer columns are medians for plan year 2024 across defined contribution plans with 100 or more participants: 250 to 499 participants (17,456 plans), manufacturing (11,377) 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 | 257 | $15.6M | $60,642 | $223K | $1.2M | $79K |
| 2024 | 257 | $15.6M | $60,864 | $214K | $1.2M | $71K |
| 2023 | 268 | $15.2M | $56,649 | $220K | $1.2M | $62K |
| 2022 | 241 | $12.6M | $52,407 | $189K | $1.0M | $61K |
| 2021 | 230 | $14.8M | $64,522 | $155K | $829K | $57K |
| 2020 | 223 | $13.2M | $59,390 | $171K | $776K | $64K |
| 2019 | 279 | $11.2M | $40,312 | $187K | $1.0M | $45K |
| 2018 | 267 | $8.6M | $32,288 | $167K | $906K | $46K |
| 2017 | 241 | $8.5M | $35,465 | $152K | $794K | $47K |
| 2016 | 207 | $6.7M | $32,314 | $130K | $669K | $44K |
| 2015 | 210 | $5.8M | $27,629 | $100K | $555K | $19K |
| 2014 | 179 | $5.2M | $29,028 | $82K | $452K | $17K |
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$15,641,984
- Employer contributions$222,547
- Participant contributions$1,191,116
- Rollovers and other contributions$16,636
- Total contributions$1,430,299
- Total income, including investment results$3,511,650
- Benefits paid$3,482,499
- Administrative expenses$78,622
- Total expenses$3,568,510
- Net income−$56,860
- Net transfers$0
- Net assets, end of year$15,585,124
Participants
- Active participants220
- Retired or separated, receiving benefits5
- Retired or separated, entitled to future benefits32
- Participants with account balances231
- Total participants, end of year257
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Sentinel Benefits Group, LLC | Recordkeeping and information management; Consulting (general); Participant loan processing; Participant communication | $46,091 | $0 |
| CAPTRUST | Investment advisory (plan) | $27,433 | $0 |
| Fidelity Personal Trust Company | Custodial (securities) | $5,098 | $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
- Recordkeeping fees$46,091
- Investment advisory and management fees$27,433
- Trustee and custodial fees$3,718
- Other administrative expenses$1,380
- Total administrative expenses$78,622
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)$14.9M · 95.7%
- Cash (interest and non-interest bearing)$365K · 2.3%
- Participant loans$305K · 2.0%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)Yes
- Accounting firmHungerford
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $2,000,000
- 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
2EProfit-sharing plan2FERISA section 404(c) plan2GTotal participant-directed account plan2JCode section 401(k) feature2KCode section 401(m) arrangement3DPre-approved pension plan2S401(k) plan or 403(b) plan that provides for automatic enrollment2TTotal or partial participant-directed account plan with a default investment account3HPlan sponsor(s) is (are) a member(s) of a controlled group
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 314000: Textile Product Mills.
Similar plans in Michigan
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Metalworks, Inc. Profit Sharing and Retirement Savings Plan and Trust Agreement | Metalworks, Inc. | 257 | $16.2M | $62,907 |
| C.T.I. Pension Plan | C. Thorrez Industries, Inc. | 256 | $25.0M | $97,669 |
| Retirement Savings Plan for Employees of Edwards Garment Co. | Edwards Garment Co. | 257 | $17.3M | $67,336 |
| Chemico LLC and Chemico Systems Inc. Profit Sharing Plan and Trust | Chemico LLC | 256 | $8.6M | $33,488 |
| Depatie Fluid Power Company Employee 401(k) Plan | Depatie Fluid Power Company | 258 | $15.5M | $59,922 |
| Orotex Corporation 401(k) Plan | Orotex Corporation | 255 | $1.6M | $6,111 |
Defined contribution plans in manufacturing closest in size.
Questions and answers
How big is Scott Group Custom Carpets, LLC 401(k) Plan?
257 participants at the end of the plan year ending 31 Dec 2025, of whom 220 were active employees, with net assets of $15,585,124. Among defined contribution plans that places it in the 250 to 499 participants band, which held 17,456 plans in plan year 2024.
What does Scott Group Custom Carpets, LLC contribute per participant?
The filing reports $222,547 in employer contributions for the year, which is $1,012 per active participant; the median for plans of the same type and size was $2,017 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 $78,622 in compensation to service provider organisations, $306 per participant or 0.50% of net assets. The same-size median among plans reporting any Schedule C compensation was $141 per participant. Administrative expenses on Schedule H were $78,622. 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 Scott Group Custom Carpets, LLC. Recordkeeping or administration: Sentinel Benefits Group, LLC. Investment advisory or management: CAPTRUST. Trustee or custodian: Fidelity Personal Trust Company. The financial statements were audited by Hungerford. 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 6 Aug 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 46-4230249, plan 001, received 6 Aug 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.