Quirch Foods, Co. 401(k) Review & Grade
Quirch Foods 401(k) Plan
Miami, FLManufacturing1,703 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$439Employer $ per active participant
$2,813Employee $ saved per active participant
0.45%Direct admin cost, % of plan assets
$46.3MNet plan assets, end of year
$42,170Average balance per account
Score breakdown
- Employer generosity2.9 / 506th percentile for employer $ per participant
- Low cost6.6 / 2526th percentile for low admin cost vs. same-size plans
- Employee saving3.1 / 1520th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score20 / 100 · Grade F
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 6th |
| Lower admin cost | 26th |
| Employee saving | 20th |
| Peers that auto-enroll | 59% |
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Red flags from the filing
Corrective distributions: the plan refunded $3,471 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Quirch Foods put in about $439 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 (0.45% 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.
- 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 | $747,275 |
| Participant (employee) contributions | $4,790,154 |
| Other contributions (incl. rollovers in) | $140,870 |
| Administrative expenses paid from the plan | $196,053 |
| Investment advisory & management fees | $121,879 |
| Benefits paid out | $4,225,916 |
| Net assets, start / end of year | $40.5M / $46.3M |
| Active participants, start / end of year | 1,740 / 1,666 |
| Participants with account balances | 1,099 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Wall Titus, LLC |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company | $74,174 reported compensation |
| Mma Securities LLC | $62,340 reported compensation |
| Empower Advisory Group, LLC | $59,539 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251009103544NAL0003823411001, received 2025-10-09, EIN 59-1200956, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.