Cult Wines Inc. 401(k) Review & Grade
Cult Wines Inc. 401(k) Plan
New York, NYWholesale Trade2,524 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500-SF filing · How we grade
$3Employer $ per active participant
$4Employee $ saved per active participant
1.63%Direct admin cost, % of plan assets
$65,775Net plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity0.0 / 500th percentile for employer $ per participant
- Low cost0.4 / 252th percentile for low admin cost vs. same-size plans
- Employee saving0.0 / 150th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-5 pts1 issue reported on the filing
Total score5 / 100 · Grade F
This plan vs. peers
Peers: Wholesale Trade plans with 2,500–9,999 active participants (103 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 0th |
| Lower admin cost | 2th |
| Employee saving | 0th |
| Peers that auto-enroll | 62% |
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Red flags from the filing
No fidelity bond: the plan reported it was not covered by a fidelity bond, which protects participants against theft.
What to do if you're in this plan
- Cult Wines put in about $3 per active participant, below the typical peer ($2,459). 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 (1.63% 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 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 | $6,622 |
| Participant (employee) contributions | $9,932 |
| Other contributions (incl. rollovers in) | $0 |
| Administrative expenses paid from the plan | $1,141 |
| Benefits paid out | $33,747 |
| Net assets, start / end of year | $74,652 / $65,775 |
| Active participants, start / end of year | 5,047 / 1 |
| Participants with account balances | 4 |
| Auto-enrollment (feature code 2S) | Yes |
Source: DOL EFAST2 Form 5500-SF filing, acknowledgment ID 20251010111219NAL0004171027001, received 2025-10-10, EIN 36-4957970, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.