Prides Corner Farms, Inc. 401(k) Review & Grade
Prides Corner Farms, Inc. Employees Profit Sharing Plan
Lebanon, CTAgriculture, Forestry, Fishing & Hunting582 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$216Employer $ per active participant
$1,250Employee $ saved per active participant
1.08%Direct admin cost, % of plan assets
$9.0MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity7.3 / 5015th percentile for employer $ per participant
- Low cost1.4 / 256th percentile for low admin cost vs. same-size plans
- Employee saving5.4 / 1536th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score14 / 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 | 15th |
| Lower admin cost | 6th |
| Employee saving | 36th |
| Peers that auto-enroll | 36% |
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Red flags from the filing
Corrective distributions: the plan refunded $69,034 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Prides Corner Farms put in about $216 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.
- Direct plan expenses (1.08% 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 | $125,513 |
| Participant (employee) contributions | $726,721 |
| Other contributions (incl. rollovers in) | $25,647 |
| Administrative expenses paid from the plan | $96,370 |
| Benefits paid out | $1,498,798 |
| Net assets, start / end of year | $8.9M / $9.0M |
| Active participants, start / end of year | 560 / 603 |
| Participants with account balances | 261 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Clifton Larson Allen LLP |
Largest service providers (Schedule C)
| Empower Annuity Ins. Co. of America | $34,377 reported compensation |
| Smith Brothers Financial LLC | $22,586 reported compensation |
| Pension Consultants Inc. | $14,694 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250924104106NAL0009103747001, received 2025-09-24, EIN 06-0952438, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.