Florida Crystals Corporation 401(k) Review & Grade
Florida Crystals Corporation Retirement Savings Plan for Bargaining Unit Employees
West Palm Beach, FLAgriculture, Forestry, Fishing & Hunting1,194 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$357Employer $ per active participant
$1,453Employee $ saved per active participant
0.30%Direct admin cost, % of plan assets
$19.9MNet plan assets, end of year
$27,168Average balance per account
Score breakdown
- Employer generosity12.4 / 5025th percentile for employer $ per participant
- Low cost10.1 / 2540th percentile for low admin cost vs. same-size plans
- Employee saving6.2 / 1541th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score32 / 100 · Grade D
This plan vs. peers
Peers: Agriculture, Forestry, Fishing & Hunting plans with 500–2,499 active participants (118 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 25th |
| Lower admin cost | 40th |
| Employee saving | 41th |
| Peers that auto-enroll | 36% |
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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
- Florida Crystals put in about $357 per active participant, below the typical peer ($774). 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.
- 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 | $426,906 |
| Participant (employee) contributions | $1,735,145 |
| Other contributions (incl. rollovers in) | $78,508 |
| Administrative expenses paid from the plan | $56,165 |
| Investment advisory & management fees | $3,702 |
| Benefits paid out | $1,602,459 |
| Net assets, start / end of year | $17.4M / $19.9M |
| Active participants, start / end of year | 1,178 / 1,211 |
| Participants with account balances | 731 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Jacoby and Handley, PLLC |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $52,463 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015111031NAL0002300387001, received 2025-10-15, EIN 65-0773338, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.