Phillips Pet Food & Supplies, Inc. 401(k) Review & Grade
Phillips Pet Food and Supplies 401(k) Plan
Easton, PAManufacturing1,033 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$740Employer $ per active participant
$2,396Employee $ saved per active participant
0.28%Direct admin cost, % of plan assets
$36.4MNet plan assets, end of year
$65,597Average balance per account
Score breakdown
- Employer generosity5.6 / 5011th percentile for employer $ per participant
- Low cost10.6 / 2543th percentile for low admin cost vs. same-size plans
- Employee saving2.4 / 1516th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score19 / 100 · Grade F
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 11th |
| Lower admin cost | 43th |
| Employee saving | 16th |
| Peers that auto-enroll | 59% |
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Red flags from the filing
Corrective distributions: the plan refunded $52,026 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Phillips Pet Food & Supplies put in about $740 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 | $764,515 |
| Participant (employee) contributions | $2,475,499 |
| Other contributions (incl. rollovers in) | $98,268 |
| Administrative expenses paid from the plan | $102,379 |
| Contract administrator fees | $300 |
| Investment advisory & management fees | $41,382 |
| Benefits paid out | $7,026,461 |
| Net assets, start / end of year | $35.8M / $36.4M |
| Active participants, start / end of year | 772 / 1,294 |
| Participants with account balances | 555 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Baker Tilly US, LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $60,997 reported compensation |
| LPL Financial LLC | $27,000 reported compensation |
| Strategic Advisors, Inc. | $14,382 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014124226NAL0001359059001, received 2025-10-14, EIN 23-0975205, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.