National Beef Packing Company, LLC 401(k) Review & Grade
National Beef Union 401(k) Plan
Kansas City, MOManufacturing6,064 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$145Employer $ per active participant
$453Employee $ saved per active participant
0.38%Direct admin cost, % of plan assets
$23.8MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity1.1 / 502th percentile for employer $ per participant
- Low cost4.3 / 2517th percentile for low admin cost vs. same-size plans
- Employee saving0.1 / 150th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score9 / 100 · Grade F
This plan vs. peers
Peers: Manufacturing plans with 2,500–9,999 active participants (566 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 2th |
| Lower admin cost | 17th |
| Employee saving | 0th |
| Peers that auto-enroll | 70% |
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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
- National Beef Packing Company put in about $145 per active participant, below the typical peer ($3,452). 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 (0.38% of assets) are well above similar-size plans (0.12%). 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.
- 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 | $879,209 |
| Participant (employee) contributions | $2,746,876 |
| Other contributions (incl. rollovers in) | $23,456 |
| Administrative expenses paid from the plan | $83,145 |
| Investment advisory & management fees | $494 |
| Benefits paid out | $2,123,476 |
| Net assets, start / end of year | $19.7M / $23.8M |
| Active participants, start / end of year | 6,149 / 5,980 |
| Participants with account balances | 1,400 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Pickett, Chaney & Mcmullen LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $82,651 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251010104228NAL0007967201001, received 2025-10-10, EIN 48-1129505, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.