Primo Water Holdings Inc 401(k) Review & Grade
Primo Retirement Savings Plan
Tampa, FLManufacturing5,789 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,448Employer $ per active participant
$3,782Employee $ saved per active participant
0.15%Direct admin cost, % of plan assets
$371.6MNet plan assets, end of year
$67,204Average balance per account
Score breakdown
- Employer generosity8.6 / 5017th percentile for employer $ per participant
- Low cost11.1 / 2544th percentile for low admin cost vs. same-size plans
- Employee saving3.3 / 1522th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score30 / 100 · Grade D
This plan vs. peers
Peers: Manufacturing plans with 2,500–9,999 active participants (566 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 17th |
| Lower admin cost | 44th |
| Employee saving | 22th |
| Peers that auto-enroll | 70% |
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Red flags from the filing
Corrective distributions: the plan refunded $277,807 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Primo Water Holdings put in about $1,448 per active participant, below the typical peer ($3,452). 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.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- 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 | $8,381,434 |
| Participant (employee) contributions | $21,892,937 |
| Other contributions (incl. rollovers in) | $1,628,604 |
| Administrative expenses paid from the plan | $513,588 |
| Investment advisory & management fees | $201,770 |
| Benefits paid out | $34,834,376 |
| Net assets, start / end of year | $335.9M / $371.6M |
| Active participants, start / end of year | 5,750 / 5,828 |
| Participants with account balances | 5,530 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Cbiz Cpas P.C. |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company | $284,518 reported compensation |
| Sageview Advisory Group LLC | $201,770 reported compensation |
| Cbiz Cpas PC | $27,300 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250829152943NAL0006309427001, received 2025-08-29, EIN 58-2020185, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.