Baldwin Richardson Foods Company 401(k) Review & Grade
Baldwin Richardson Foods Company 401(k) Profit Sharing Plan
Macedon, NYManufacturing649 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,292Employer $ per active participant
$4,149Employee $ saved per active participant
0.52%Direct admin cost, % of plan assets
$30.6MNet plan assets, end of year
$38,300Average balance per account
Score breakdown
- Employer generosity12.5 / 5025th percentile for employer $ per participant
- Low cost5.5 / 2522th percentile for low admin cost vs. same-size plans
- Employee saving5.8 / 1539th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score31 / 100 · Grade D
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 25th |
| Lower admin cost | 22th |
| Employee saving | 39th |
| Peers that auto-enroll | 59% |
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Red flags from the filing
Corrective distributions: the plan refunded $5,583 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Baldwin Richardson Foods put in about $1,292 per active participant, below the typical peer ($2,320). Any match is still an instant return, so contribute enough to get all of it.
- 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.
- Direct plan expenses (0.52% of assets) are well above similar-size plans (0.23%). Check your annual fee disclosure, choose low-cost index funds if you can, and think about whether savings beyond the match belong in an IRA.
- 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 | $838,688 |
| Participant (employee) contributions | $2,692,640 |
| Other contributions (incl. rollovers in) | $2,139,766 |
| Administrative expenses paid from the plan | $142,493 |
| Contract administrator fees | $117,493 |
| Investment advisory & management fees | $25,000 |
| Benefits paid out | $2,667,490 |
| Net assets, start / end of year | $24.4M / $30.6M |
| Active participants, start / end of year | 633 / 665 |
| Participants with account balances | 799 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Bowers & Company Cpas, PLLC |
Largest service providers (Schedule C)
| Lincoln National Corporation | $117,493 reported compensation |
| Arthur J Gallagher & Co | $25,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013133357NAL0000656595001, received 2025-10-13, EIN 36-3843103, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.