Employee Owned Brands, Inc. 401(k) Review & Grade
Employee Owned Brands, Inc. 401(k) Plan
Fairfield, IAManufacturing1,108 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$259Employer $ per active participant
$2,358Employee $ saved per active participant
0.30%Direct admin cost, % of plan assets
$65.6MNet plan assets, end of year
$92,397Average balance per account
Score breakdown
- Employer generosity1.7 / 503th percentile for employer $ per participant
- Low cost10.0 / 2540th percentile for low admin cost vs. same-size plans
- Employee saving2.3 / 1516th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score21 / 100 · Grade F
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 3th |
| Lower admin cost | 40th |
| Employee saving | 16th |
| Peers that auto-enroll | 59% |
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Red flags from the filing
Corrective distributions: the plan refunded $13,801 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Employee Owned Brands put in about $259 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 | $286,421 |
| Participant (employee) contributions | $2,613,147 |
| Other contributions (incl. rollovers in) | $10,819,900 |
| Administrative expenses paid from the plan | $180,864 |
| Contract administrator fees | $180,864 |
| Benefits paid out | $9,064,385 |
| Net assets, start / end of year | $53.7M / $65.6M |
| Active participants, start / end of year | 1,096 / 1,120 |
| Participants with account balances | 710 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | RSM US LLP |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $180,864 reported compensation |
| Capfinancial Partners LLC | $68,613 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250813084351NAL0012445232001, received 2025-08-13, EIN 42-0990485, plan #004, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.