Premier Packing of California, Inc. 401(k) Review & Grade
Premier Packing of California, Inc. 401(k) Plan
Salinas, CAAgriculture, Forestry, Fishing & Hunting1,300 active participantsPlan year 2024
Estimate from the plan's Form 5500-SF filing · How we grade
$11Employer $ per active participant
$15Employee $ saved per active participant
$0 reportedDirect admin cost, % of plan assets
$35,811Net plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity0.9 / 502th percentile for employer $ per participant
- Low cost12.5 / 25No direct expenses reported, scored neutral
- Employee saving0.1 / 151th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-5 pts1 issue reported on the filing
Total score12 / 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 | 2th |
| Lower admin cost | neutral |
| Employee saving | 1th |
| Peers that auto-enroll | 36% |
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Red flags from the filing
No fidelity bond: the plan reported it was not covered by a fidelity bond, which protects participants against theft.
What to do if you're in this plan
- Premier Packing of California put in about $11 per active participant, below the typical peer ($774). 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.
- The plan reported no administrative expenses paid from plan assets. The employer may pay them, or the costs may be built into fund fees. Check your 404(a)(5) fee disclosure for each fund's expense ratio.
- 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 | $14,463 |
| Participant (employee) contributions | $19,520 |
| Other contributions (incl. rollovers in) | – |
| Administrative expenses paid from the plan | $0 |
| Benefits paid out | – |
| Net assets, start / end of year | $1,828 / $35,811 |
| Active participants, start / end of year | 1,300 / 1,300 |
| Participants with account balances | 4 |
| Auto-enrollment (feature code 2S) | Not reported |
Source: DOL EFAST2 Form 5500-SF filing, acknowledgment ID 20251008171241NAL0006177505001, received 2025-10-08, EIN 88-3592686, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.