Metropolitan Foods Inc 401(k) Review & Grade
Metropolitan Foods Inc 401(k) Profit Sharing Plan and Trust
Wayne, NJProfessional, Scientific & Technical Services754 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$699Employer $ per active participant
$3,745Employee $ saved per active participant
0.61%Direct admin cost, % of plan assets
$23.3MNet plan assets, end of year
$54,481Average balance per account
Score breakdown
- Employer generosity8.0 / 5016th percentile for employer $ per participant
- Low cost4.3 / 2517th percentile for low admin cost vs. same-size plans
- Employee saving2.9 / 1519th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score5 / 100 · Grade F
This plan vs. peers
Peers: Professional, Scientific & Technical Services plans with 500–2,499 active participants (1,469 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 16th |
| Lower admin cost | 17th |
| Employee saving | 19th |
| Peers that auto-enroll | 48% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($845,382 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $236,220 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Metropolitan Foods put in about $699 per active participant, below the typical peer ($3,082). 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.
- Direct plan expenses (0.61% of assets) are well above similar-size plans (0.23%). Check your annual fee disclosure, choose low-cost index funds if you can, and think about whether savings beyond the match belong in an IRA.
- The plan reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- 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 | $527,235 |
| Participant (employee) contributions | $2,825,703 |
| Other contributions (incl. rollovers in) | $511,540 |
| Administrative expenses paid from the plan | $126,314 |
| Contract administrator fees | $126,314 |
| Benefits paid out | $1,037,280 |
| Net assets, start / end of year | $18.3M / $23.3M |
| Active participants, start / end of year | 750 / 759 |
| Participants with account balances | 428 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Dorfman, Abrams and Music |
Largest service providers (Schedule C)
| Lincoln National Corporation | $53,825 reported compensation |
| Merrill Lynch, Pierce, Fenner & Smi | $49,755 reported compensation |
| Retirewell Administrators, LLC | $22,571 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015154923NAL0002693475001, received 2025-10-15, EIN 22-3482240, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.