Obi Seafoods, LLC 401(k) Review & Grade
Obi Seafoods 401(k) Plan
Seattle, WAManufacturing670 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,082Employer $ per active participant
$2,583Employee $ saved per active participant
0.34%Direct admin cost, % of plan assets
$26.6MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity9.6 / 5019th percentile for employer $ per participant
- Low cost9.1 / 2536th percentile for low admin cost vs. same-size plans
- Employee saving2.7 / 1518th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score24 / 100 · Grade F
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 19th |
| Lower admin cost | 36th |
| Employee saving | 18th |
| Peers that auto-enroll | 59% |
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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
- Obi Seafoods put in about $1,082 per active participant, below the typical peer ($2,320). 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.
- 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 | $724,644 |
| Participant (employee) contributions | $1,729,045 |
| Other contributions (incl. rollovers in) | $88,853 |
| Administrative expenses paid from the plan | $91,486 |
| Investment advisory & management fees | $52,809 |
| Benefits paid out | $5,876,153 |
| Net assets, start / end of year | $27.5M / $26.6M |
| Active participants, start / end of year | 1,036 / 303 |
| Participants with account balances | 278 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Clark Nuber PS |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company O | $38,677 reported compensation |
| Empower Advisory Group, LLC | $32,566 reported compensation |
| Gallagher Benefit Services Inc DBA | $20,243 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251006144518NAL0003828913001, received 2025-10-06, EIN 84-1944330, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.