Santa Monica Seafood Company 401(k) Review & Grade
Santa Monica Seafood Company 401(k) Plan
Rancho Dominguez, CAAccommodation & Food Services986 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$778Employer $ per active participant
$1,768Employee $ saved per active participant
0.54%Direct admin cost, % of plan assets
$23.4MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity41.5 / 5083th percentile for employer $ per participant
- Low cost5.2 / 2521th percentile for low admin cost vs. same-size plans
- Employee saving12.3 / 1582th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score62 / 100 · Grade B
This plan vs. peers
Peers: Accommodation & Food Services plans with 500–2,499 active participants (458 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 83th |
| Lower admin cost | 21th |
| Employee saving | 82th |
| Peers that auto-enroll | 17% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Santa Monica Seafood put in about $778 per active participant, more than the typical peer ($266). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- 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 (0.54% 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 | $766,895 |
| Participant (employee) contributions | $1,743,106 |
| Other contributions (incl. rollovers in) | $320,533 |
| Administrative expenses paid from the plan | $116,404 |
| Contract administrator fees | $300 |
| Investment advisory & management fees | $58,124 |
| Benefits paid out | $1,618,525 |
| Net assets, start / end of year | $19.8M / $23.4M |
| Active participants, start / end of year | 947 / 1,025 |
| Participants with account balances | 375 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Hutchinson & Bloodgood LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $58,280 reported compensation |
| Sageview Advisory Group LLC | $51,728 reported compensation |
| Strategic Advisors, Inc. | $6,396 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250805193029NAL0002805808001, received 2025-08-05, EIN 95-3616163, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.