Metrolina Greenhouses, Inc. 401(k) Review & Grade
Metrolina Greenhouses, Inc. Profit Sharing Plan
Huntersville, NCAgriculture, Forestry, Fishing & Hunting666 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$4,401Employer $ per active participant
$3,018Employee $ saved per active participant
0.25%Direct admin cost, % of plan assets
$72.9MNet plan assets, end of year
$91,025Average balance per account
Score breakdown
- Employer generosity46.6 / 5093th percentile for employer $ per participant
- Low cost11.8 / 2547th percentile for low admin cost vs. same-size plans
- Employee saving9.5 / 1563th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score68 / 100 · Grade B
This plan vs. peers
Peers: Agriculture, Forestry, Fishing & Hunting plans with 500–2,499 active participants (118 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 93th |
| Lower admin cost | 47th |
| Employee saving | 63th |
| Peers that auto-enroll | 36% |
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Red flags from the filing
Corrective distributions: the plan refunded $94,860 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Metrolina Greenhouses put in about $4,401 per active participant, more than the typical peer ($774). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- 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 | $2,933,124 |
| Participant (employee) contributions | $2,011,715 |
| Other contributions (incl. rollovers in) | $9,340 |
| Administrative expenses paid from the plan | $170,488 |
| Contract administrator fees | $159,179 |
| Investment advisory & management fees | $11,309 |
| Benefits paid out | $5,041,944 |
| Net assets, start / end of year | $63.3M / $72.9M |
| Active participants, start / end of year | 637 / 696 |
| Participants with account balances | 801 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Greer Walker |
Largest service providers (Schedule C)
| John Hancock Life Insurance Co | $170,488 reported compensation |
| Woodbury Financial Services | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250709141257NAL0013064850001, received 2025-07-09, EIN 56-1158337, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.