Megamex Foods LLC 401(k) Review & Grade
Megamex Foods, LLC 401(k) Plan
Orange, CAManufacturing626 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,251Employer $ per active participant
$2,474Employee $ saved per active participant
0.27%Direct admin cost, % of plan assets
$22.5MNet plan assets, end of year
$68,275Average balance per account
Score breakdown
- Employer generosity12.1 / 5024th percentile for employer $ per participant
- Low cost11.2 / 2545th percentile for low admin cost vs. same-size plans
- Employee saving2.5 / 1517th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-8 pts2 issues 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 | 24th |
| Lower admin cost | 45th |
| Employee saving | 17th |
| Peers that auto-enroll | 59% |
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Red flags from the filing
Auditor disclaimer: the auditor issued a disclaimer of opinion.
Corrective distributions: the plan refunded $1,539 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Megamex Foods put in about $1,251 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.
- 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 | $783,277 |
| Participant (employee) contributions | $1,548,781 |
| Other contributions (incl. rollovers in) | $462,573 |
| Administrative expenses paid from the plan | $56,356 |
| Contract administrator fees | $56,356 |
| Benefits paid out | $1,950,513 |
| Net assets, start / end of year | $19.5M / $22.5M |
| Active participants, start / end of year | 613 / 639 |
| Participants with account balances | 330 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | BPM LLP |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $56,355 reported compensation |
| Wells Fargo Advisors Ins Agency LLC | $32,061 reported compensation |
| Wells Fargo Advisors Fin Network | $5,689 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013183402NAL0000901955001, received 2025-10-13, EIN 27-1244229, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.