Pharmacann Inc 401(k) Review & Grade
Pharmacann 401(k) Plan
Chicago, ILAgriculture, Forestry, Fishing & Hunting1,692 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,387Employer $ per active participant
$2,096Employee $ saved per active participant
2.18%Direct admin cost, % of plan assets
$18.5MNet plan assets, end of year
$7,348Average balance per account
Score breakdown
- Employer generosity32.1 / 5064th percentile for employer $ per participant
- Low cost0.2 / 251th percentile for low admin cost vs. same-size plans
- Employee saving8.1 / 1554th percentile for employee $ per participant
- Plan features0 / 10No auto-enrollment or default investment reported
- Red-flag deductions-13 pts2 issues reported on the filing
Total score27 / 100 · Grade F
This plan vs. peers
Peers: Agriculture, Forestry, Fishing & Hunting plans with 500–2,499 active participants (118 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 64th |
| Lower admin cost | 1th |
| Employee saving | 54th |
| Peers that auto-enroll | 36% |
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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 ($73,105 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $75,387 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Pharmacann put in about $1,387 per active participant, more than the typical peer ($774). 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.
- Direct plan expenses (2.18% 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 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 | $2,346,928 |
| Participant (employee) contributions | $3,546,458 |
| Other contributions (incl. rollovers in) | $5,041 |
| Administrative expenses paid from the plan | $284,642 |
| Contract administrator fees | $209,726 |
| Investment advisory & management fees | $74,916 |
| Benefits paid out | $2,681,856 |
| Net assets, start / end of year | $7.6M / $18.5M |
| Active participants, start / end of year | 1,148 / 2,236 |
| Participants with account balances | 2,517 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Metz CPA, PLLC |
Largest service providers (Schedule C)
| PCS Retirement LLC | $209,726 reported compensation |
| Abg Consultants | $74,916 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20260730161930NAL0020461123001, received 2026-07-30, EIN 92-3330222, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.