Growmark, Inc. 401(k) Review & Grade
Growmark 401(k) Plan
Bloomington, ILAgriculture, Forestry, Fishing & Hunting2,228 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$768Employer $ per active participant
$6,373Employee $ saved per active participant
0.13%Direct admin cost, % of plan assets
$286.4MNet plan assets, end of year
$84,673Average balance per account
Score breakdown
- Employer generosity24.8 / 5050th percentile for employer $ per participant
- Low cost16.8 / 2567th percentile for low admin cost vs. same-size plans
- Employee saving13.6 / 1591th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score52 / 100 · Grade C
This plan vs. peers
Peers: Agriculture, Forestry, Fishing & Hunting plans with 500–2,499 active participants (118 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 50th |
| Lower admin cost | 67th |
| Employee saving | 91th |
| Peers that auto-enroll | 36% |
Get the monthly 401(k) report card
The best and worst plans, new grades as filings post. One email a month, no spam.
Red flags from the filing
Benefits not paid when due: the plan reported failing to pay some benefits on time.
Corrective distributions: the plan refunded $4,865 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Growmark put in about $768 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.
- 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 | $1,711,380 |
| Participant (employee) contributions | $14,199,601 |
| Other contributions (incl. rollovers in) | $2,216,807 |
| Administrative expenses paid from the plan | $350,090 |
| Contract administrator fees | $3,300 |
| Investment advisory & management fees | $123,011 |
| Other admin expenses | $42,889 |
| Benefits paid out | $25,727,978 |
| Net assets, start / end of year | $250.3M / $286.4M |
| Active participants, start / end of year | 2,180 / 2,276 |
| Participants with account balances | 3,382 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Rubin Brown LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $164,730 reported compensation |
| Strategic Advisors, Inc. | $123,011 reported compensation |
| Marquette Associates | $42,889 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250912132211NAL0001330737001, received 2025-09-12, EIN 37-0815318, plan #011, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.