Perfection Bakeries, Inc. 401(k) Review & Grade
Aunt Millie's Bakeries Union 401(k) Savings Plan
Fort Wayne, INManufacturing614 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$4,057Employer $ per active participant
$6,938Employee $ saved per active participant
0.23%Direct admin cost, % of plan assets
$106.2MNet plan assets, end of year
$113,481Average balance per account
Score breakdown
- Employer generosity37.8 / 5076th percentile for employer $ per participant
- Low cost12.4 / 2549th percentile for low admin cost vs. same-size plans
- Employee saving10.9 / 1573th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score71 / 100 · Grade B
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 76th |
| Lower admin cost | 49th |
| Employee saving | 73th |
| 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
- Perfection Bakeries put in about $4,057 per active participant, more than the typical peer ($2,320). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- 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.
- 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 | $2,492,868 |
| Participant (employee) contributions | $4,263,299 |
| Other contributions (incl. rollovers in) | $173,090 |
| Administrative expenses paid from the plan | $242,083 |
| Contract administrator fees | $133,540 |
| Investment advisory & management fees | $94,368 |
| Benefits paid out | $14,861,515 |
| Net assets, start / end of year | $100.5M / $106.2M |
| Active participants, start / end of year | 601 / 628 |
| Participants with account balances | 936 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Crowe LLP |
Largest service providers (Schedule C)
| John Hancock | $183,908 reported compensation |
| Procourse Fiduciary Advisors, LLC | $44,000 reported compensation |
| Crowe, LLP | $14,175 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015134305NAL0004708225001, received 2025-10-15, EIN 35-0577170, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.