Harvest Sherwood Food Distributors, Inc 401(k) Review & Grade
Harvest Sherwood Food Distributors Employee 401(k) Plan
National City, CAWholesale Trade1,169 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,335Employer $ per active participant
$5,754Employee $ saved per active participant
0.26%Direct admin cost, % of plan assets
$87.8MNet plan assets, end of year
$55,933Average balance per account
Score breakdown
- Employer generosity17.8 / 5036th percentile for employer $ per participant
- Low cost11.6 / 2547th percentile for low admin cost vs. same-size plans
- Employee saving9.8 / 1565th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score46 / 100 · Grade C
This plan vs. peers
Peers: Wholesale Trade plans with 500–2,499 active participants (603 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 36th |
| Lower admin cost | 47th |
| Employee saving | 65th |
| Peers that auto-enroll | 53% |
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Red flags from the filing
Corrective distributions: the plan refunded $5,223 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Harvest Sherwood Food Distributors put in about $1,335 per active participant, below the typical peer ($1,792). 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 | $1,561,023 |
| Participant (employee) contributions | $6,725,904 |
| Other contributions (incl. rollovers in) | $119,690 |
| Administrative expenses paid from the plan | $217,595 |
| Contract administrator fees | $117,424 |
| Investment advisory & management fees | $81,671 |
| Benefits paid out | $15,154,270 |
| Net assets, start / end of year | $82.6M / $87.8M |
| Active participants, start / end of year | 1,132 / 1,206 |
| Participants with account balances | 1,570 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Plante & Moran, PLLC |
Largest service providers (Schedule C)
| John Hancock | $179,881 reported compensation |
| Gallagher Benefit Services Inc | $70,000 reported compensation |
| Plante and Moran | $18,500 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251003142637NAL0000908019001, received 2025-10-03, EIN 51-0378995, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.