Elite Spice, Inc. 401(k) Review & Grade
Elite Spice, Inc. 401(k) Profit Sharing Plan and Trust
Jessup, MDManufacturing714 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$583Employer $ per active participant
$3,801Employee $ saved per active participant
0.32%Direct admin cost, % of plan assets
$37.8MNet plan assets, end of year
$61,999Average balance per account
Score breakdown
- Employer generosity4.2 / 508th percentile for employer $ per participant
- Low cost9.6 / 2539th percentile for low admin cost vs. same-size plans
- Employee saving5.0 / 1534th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score29 / 100 · Grade F
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 8th |
| Lower admin cost | 39th |
| Employee saving | 34th |
| Peers that auto-enroll | 59% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Elite Spice put in about $583 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.
- Fund expense ratios aren't in the filing. Look them up in your 404(a)(5) fee disclosure and favor low-cost index or target-date funds.
- 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 | $416,527 |
| Participant (employee) contributions | $2,713,872 |
| Other contributions (incl. rollovers in) | $102,924 |
| Administrative expenses paid from the plan | $116,506 |
| Contract administrator fees | $82,501 |
| Investment advisory & management fees | $34,005 |
| Benefits paid out | $4,289,466 |
| Net assets, start / end of year | $35.5M / $37.8M |
| Active participants, start / end of year | 627 / 801 |
| Participants with account balances | 609 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Gorfine Schiller & Gardyn, PA |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $82,357 reported compensation |
| Mma Securities LLC | $35,000 reported compensation |
| Morningstar Investment Management L | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250630132949NAL0006322179001, received 2025-06-30, EIN 52-1545176, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.