Loffredo Gardens, Inc. 401(k) Review & Grade
Loffredo Gardens Inc. Profit Sharing Plan
Des Moines, IAWholesale Trade522 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$957Employer $ per active participant
$1,557Employee $ saved per active participant
0.06%Direct admin cost, % of plan assets
$18.0MNet plan assets, end of year
$48,743Average balance per account
Score breakdown
- Employer generosity11.1 / 5022th percentile for employer $ per participant
- Low cost21.3 / 2585th percentile for low admin cost vs. same-size plans
- Employee saving1.2 / 158th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score37 / 100 · Grade D
This plan vs. peers
Peers: Wholesale Trade plans with 500–2,499 active participants (603 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 22th |
| Lower admin cost | 85th |
| Employee saving | 8th |
| Peers that auto-enroll | 53% |
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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
- Loffredo Gardens put in about $957 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.
- 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 | $500,046 |
| Participant (employee) contributions | $813,373 |
| Other contributions (incl. rollovers in) | $5,136 |
| Administrative expenses paid from the plan | $9,699 |
| Benefits paid out | $1,389,994 |
| Net assets, start / end of year | $15.8M / $18.0M |
| Active participants, start / end of year | 399 / 646 |
| Participants with account balances | 370 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Cliftonlarsonallen LLP |
Largest service providers (Schedule C)
| Ubs Financial Services Inc. | $21,000 reported compensation |
| Fidelity Investments Institutional | $9,699 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250919103554NAL0005243730001, received 2025-09-19, EIN 42-1013598, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.