Peco Foods, Inc. 401(k) Review & Grade
Peco Foods, Inc. Retirement Savings Plan
Tuscaloosa, ALAgriculture, Forestry, Fishing & Hunting6,236 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$700Employer $ per active participant
$2,719Employee $ saved per active participant
0.79%Direct admin cost, % of plan assets
$129.4MNet plan assets, end of year
$20,495Average balance per account
Score breakdown
- Employer generosity13.4 / 5027th percentile for employer $ per participant
- Low cost1.7 / 257th percentile for low admin cost vs. same-size plans
- Employee saving4.6 / 1531th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score27 / 100 · Grade F
This plan vs. peers
Peers: all industries, plans with 2,500–9,999 active participants (fewer than 30 industry peers) (2,386 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 27th |
| Lower admin cost | 7th |
| Employee saving | 31th |
| Peers that auto-enroll | 52% |
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Red flags from the filing
Corrective distributions: the plan refunded $104,647 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Peco Foods put in about $700 per active participant, below the typical peer ($2,062). 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 (0.79% 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.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- 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 | $4,363,332 |
| Participant (employee) contributions | $16,957,535 |
| Other contributions (incl. rollovers in) | $579,993 |
| Administrative expenses paid from the plan | $960,306 |
| Contract administrator fees | $790,109 |
| Investment advisory & management fees | $56,732 |
| Other admin expenses | $113,465 |
| Benefits paid out | $18,568,909 |
| Net assets, start / end of year | $114.0M / $129.4M |
| Active participants, start / end of year | 6,234 / 6,238 |
| Participants with account balances | 6,315 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Frost, PLLC |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $790,109 reported compensation |
| Merrill Lynch Pierce Fenner & Smith | $170,486 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250926104826NAL0010028832001, received 2025-09-26, EIN 63-0574021, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.