Plan Snapshot
- Plan Sponsor: Sonoco Products Company
- Sponsor EIN: 570248420
- Sponsor Address: ONE NORTH SECOND STREET, HARTSVILLE, SC, 29550
- Plan Type: 401(k)
- Plan Number: 026
- Total Participants: 11,589
- Total Assets: $1.5B
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: Yes
- Participant Loans: Yes
- Participant-Directed Investments: Yes
- ERISA Section 404(c) Fiduciary Safe Harbor: Yes
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2025 | 11,589 | $1.5B | $0 | $0 |
| 2024 | 11,080 | $1.7B | $49.7M | $71.8M |
| 2023 | 11,634 | $1.6B | $48.9M | $67.8M |
| 2022 | 11,311 | $1.2B | $38.3M | $54.0M |
| 2020 | 10,203 | $1.3B | $36.8M | $42.6M |
Service Providers (Schedule C)
Vendors paid $5,000 or more for services to the plan, ranked by total compensation (direct + indirect fees).
| Provider Name | Role | Direct Compensation | Indirect Compensation | Total Fees |
|---|---|---|---|---|
| EMPOWER ADVISORY GROUP,LLC | Other Service Provider | $1,171,879 | — | $1,171,879 |
| EMPOWER ANNUITY INSURANCE COMPANY | Other Service Provider | $490,429 | — | $490,429 |
| METROPOLITAN TOWER LIFE INSURANCE | Other Service Provider | $51,337 | — | $51,337 |
| CROWE LLP | Other Service Provider | $31,552 | — | $31,552 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $1,745,197
- Estimated Expense Ratio: 0.114% of plan assets
Historical Administrative Expenses
Breakdown of administrative expense categories reported on Form 5500 filings.
| Year | Total Admin Expenses | Investment Mgmt Fees | Contract Admin Fees | IQPA Audit Fees | Professional Fees |
|---|---|---|---|---|---|
| 2025 | $415,930,371 | $1,223,216 | — | $31,552 | — |
| 2024 | $1,761,261 | $1,119,346 | $47,886 | $111,001 | — |
| 2023 | $1,803,186 | $1,120,606 | — | — | — |
| 2022 | $1,642,018 | $992,669 | — | — | $50,000 |
| 2020 | $1,654,756 | $814,069 | $137,159 | — | — |