Ridley's Food Corporation 401(k) Review & Grade
Ridley's Food Corporation 401(k) Plan
Twin Falls, IDRetail Trade1,828 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$310Employer $ per active participant
$593Employee $ saved per active participant
0.64%Direct admin cost, % of plan assets
$12.1MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity11.8 / 5024th percentile for employer $ per participant
- Low cost3.8 / 2515th percentile for low admin cost vs. same-size plans
- Employee saving1.0 / 157th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-8 pts2 issues reported on the filing
Total score12 / 100 · Grade F
This plan vs. peers
Peers: Retail Trade plans with 500–2,499 active participants (719 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 24th |
| Lower admin cost | 15th |
| Employee saving | 7th |
| Peers that auto-enroll | 48% |
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Red flags from the filing
No fidelity bond: the plan reported it was not covered by a fidelity bond, which protects participants against theft.
Corrective distributions: the plan refunded $117,290 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Ridley's Food put in about $310 per active participant, below the typical peer ($743). 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 (0.64% 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 | $566,370 |
| Participant (employee) contributions | $1,084,545 |
| Other contributions (incl. rollovers in) | $515,302 |
| Administrative expenses paid from the plan | $73,095 |
| Investment advisory & management fees | $34,280 |
| Benefits paid out | $1,802,049 |
| Net assets, start / end of year | $10.6M / $12.1M |
| Active participants, start / end of year | 1,990 / 1,666 |
| Participants with account balances | 384 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Carver Florek & James |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company O | $38,814 reported compensation |
| Raymond James & Associates Inc | $25,254 reported compensation |
| Empower Advisory Group, LLC | $9,026 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013123742NAL0001948416001, received 2025-10-13, EIN 82-0419791, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.