Nino Salvaggio Fruit & Vegetable Market of Troy, Inc. 401(k) Review & Grade
Nino Salvaggio International Marketplace Retirement Savings Plan
Troy, MIRetail Trade767 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$128Employer $ per active participant
$989Employee $ saved per active participant
0.64%Direct admin cost, % of plan assets
$11.3MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity5.7 / 5011th percentile for employer $ per participant
- Low cost3.9 / 2516th percentile for low admin cost vs. same-size plans
- Employee saving2.4 / 1516th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score15 / 100 · Grade F
This plan vs. peers
Peers: Retail Trade plans with 500–2,499 active participants (719 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 11th |
| Lower admin cost | 16th |
| Employee saving | 16th |
| Peers that auto-enroll | 48% |
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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
- Nino Salvaggio Fruit & Vegetable Market of Troy put in about $128 per active participant, below the typical peer ($743). 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 (0.64% 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.
- 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 | $98,178 |
| Participant (employee) contributions | $758,847 |
| Other contributions (incl. rollovers in) | $0 |
| Administrative expenses paid from the plan | $66,516 |
| Investment advisory & management fees | $36,008 |
| Benefits paid out | $357,037 |
| Net assets, start / end of year | $9.5M / $11.3M |
| Active participants, start / end of year | 779 / 755 |
| Participants with account balances | 269 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Cohen & Company |
Largest service providers (Schedule C)
| Gregory J Schwartz & Company Inc | $36,008 reported compensation |
| Capital Group Retirement Plan Svcs. | $30,508 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251010110610NAL0008005249001, received 2025-10-10, EIN 38-3202576, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.