Costa Farms, LLC 401(k) Review & Grade
Costa Farms, LLC 401(k) Plan
Miami, FLAgriculture, Forestry, Fishing & Hunting4,054 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$499Employer $ per active participant
$864Employee $ saved per active participant
0.31%Direct admin cost, % of plan assets
$41.2MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity10.9 / 5022th percentile for employer $ per participant
- Low cost5.5 / 2522th percentile for low admin cost vs. same-size plans
- Employee saving1.7 / 1512th percentile for employee $ per participant
- Plan features0 / 10No auto-enrollment or default investment reported
- Red-flag deductions-10 pts1 issue reported on the filing
Total score8 / 100 · Grade F
This plan vs. peers
Peers: all industries, plans with 2,500–9,999 active participants (fewer than 30 industry peers) (2,386 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 22th |
| Lower admin cost | 22th |
| Employee saving | 12th |
| Peers that auto-enroll | 52% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($1,211,000 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- Costa Farms put in about $499 per active participant, below the typical peer ($2,062). 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 (0.31% of assets) are well above similar-size plans (0.12%). 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 reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- 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 | $2,023,065 |
| Participant (employee) contributions | $3,503,724 |
| Other contributions (incl. rollovers in) | $3,765,130 |
| Administrative expenses paid from the plan | $111,438 |
| Contract administrator fees | $111,298 |
| Other admin expenses | $140 |
| Benefits paid out | $3,140,789 |
| Net assets, start / end of year | $30.9M / $41.2M |
| Active participants, start / end of year | 4,209 / 3,900 |
| Participants with account balances | 1,369 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Forvis Mazars LLP |
| Employer stock held by plan | $32,159 |
Largest service providers (Schedule C)
| Proaccount | $30,048 reported compensation |
| John Hancock Life Ins. Co. (USA) | $26,307 reported compensation |
| Raymond James Fin Serv Advisors | $23,762 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250627113935NAL0005307843001, received 2025-06-27, EIN 27-1453116, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.