National Convenience Distributors, LLC 401(k) Review & Grade
National Convenience Distributors 401(k) Retirement Plan
Farmingdale, NYWholesale Trade1,024 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$825Employer $ per active participant
$3,266Employee $ saved per active participant
0.73%Direct admin cost, % of plan assets
$39.2MNet plan assets, end of year
$33,720Average balance per account
Score breakdown
- Employer generosity9.0 / 5018th percentile for employer $ per participant
- Low cost3.0 / 2512th percentile for low admin cost vs. same-size plans
- Employee saving4.0 / 1527th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score16 / 100 · Grade F
This plan vs. peers
Peers: Wholesale Trade plans with 500–2,499 active participants (603 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 18th |
| Lower admin cost | 12th |
| Employee saving | 27th |
| Peers that auto-enroll | 53% |
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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 ($160,193 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- National Convenience Distributors put in about $825 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.
- Direct plan expenses (0.73% 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 auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- 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 | $844,312 |
| Participant (employee) contributions | $3,343,959 |
| Other contributions (incl. rollovers in) | $0 |
| Administrative expenses paid from the plan | $270,770 |
| Contract administrator fees | $139,121 |
| Investment advisory & management fees | $71,253 |
| Benefits paid out | $4,721,403 |
| Net assets, start / end of year | $34.7M / $39.2M |
| Active participants, start / end of year | 1,055 / 993 |
| Participants with account balances | 1,162 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Meyers Brothers Kalicka, P.C. |
Largest service providers (Schedule C)
| Empower Life & Annuity Insurance | $124,117 reported compensation |
| Compass 360 | $74,505 reported compensation |
| Stifel Nicolaus & Co Inc. | $71,253 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251009080247NAL0006268689001, received 2025-10-09, EIN 47-1128020, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.