Rhode Island Distributing Company, LLC 401(k) Review & Grade
Rhode Island Distributing Company Company 401(k) Profit Sharing Plan
West Greenwich, RIWholesale Trade824 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,741Employer $ per active participant
$6,430Employee $ saved per active participant
0.18%Direct admin cost, % of plan assets
$130.0MNet plan assets, end of year
$119,467Average balance per account
Score breakdown
- Employer generosity24.2 / 5048th percentile for employer $ per participant
- Low cost14.4 / 2558th percentile for low admin cost vs. same-size plans
- Employee saving11.0 / 1573th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score57 / 100 · Grade C
This plan vs. peers
Peers: Wholesale Trade plans with 500–2,499 active participants (603 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 48th |
| Lower admin cost | 58th |
| Employee saving | 73th |
| Peers that auto-enroll | 53% |
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Red flags from the filing
Corrective distributions: the plan refunded $44,487 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Rhode Island Distributing Company put in about $1,741 per active participant, below the typical peer ($1,792). 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 | $1,435,677 |
| Participant (employee) contributions | $5,301,251 |
| Other contributions (incl. rollovers in) | $1,535,682 |
| Administrative expenses paid from the plan | $225,611 |
| Contract administrator fees | $225,611 |
| Benefits paid out | $13,462,108 |
| Net assets, start / end of year | $119.3M / $130.0M |
| Active participants, start / end of year | 856 / 793 |
| Participants with account balances | 1,088 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Cliftonlarsonallen LLP |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $225,610 reported compensation |
| Morgan Stanley Fbo Advisory Fee Bil | $123,969 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250926151557NAL0010268288001, received 2025-09-26, EIN 26-0266853, plan #333, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.