Premio Foods, Inc. 401(k) Review & Grade
Premio Foods, Inc. 401(k) Plan
Hawthorne, NJManufacturing628 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,322Employer $ per active participant
$2,134Employee $ saved per active participant
1.31%Direct admin cost, % of plan assets
$11.2MNet plan assets, end of year
$23,871Average balance per account
Score breakdown
- Employer generosity12.9 / 5026th percentile for employer $ per participant
- Low cost0.9 / 254th percentile for low admin cost vs. same-size plans
- Employee saving2.0 / 1514th percentile for employee $ per participant
- Plan features3 / 10Default investment
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 | 26th |
| Lower admin cost | 4th |
| Employee saving | 14th |
| 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
- Premio Foods put in about $1,322 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.
- Direct plan expenses (1.31% 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.
- 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 | $831,132 |
| Participant (employee) contributions | $1,341,214 |
| Other contributions (incl. rollovers in) | $52,879 |
| Administrative expenses paid from the plan | $137,013 |
| Investment advisory & management fees | $24,723 |
| Benefits paid out | $1,739,324 |
| Net assets, start / end of year | $9.7M / $11.2M |
| Active participants, start / end of year | 666 / 591 |
| Participants with account balances | 470 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Forvis Mazars, LLP |
Largest service providers (Schedule C)
| Adp, Inc. | $112,290 reported compensation |
| Cadaret Grant & Co Inc | $24,723 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015060155NAL0001924371001, received 2025-10-15, EIN 22-2237487, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.