Saputo Cheese USA Inc. 401(k) Review & Grade
Saputo USA 401(k) Plan
Milwaukee, WIManufacturing7,604 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3,006Employer $ per active participant
$4,891Employee $ saved per active participant
0.08%Direct admin cost, % of plan assets
$649.9MNet plan assets, end of year
$76,997Average balance per account
Score breakdown
- Employer generosity21.6 / 5043th percentile for employer $ per participant
- Low cost16.5 / 2566th percentile for low admin cost vs. same-size plans
- Employee saving5.2 / 1535th percentile for employee $ per participant
- Plan features7 / 10Auto-enrollment
Total score50 / 100 · Grade C
This plan vs. peers
Peers: Manufacturing plans with 2,500–9,999 active participants (566 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 43th |
| Lower admin cost | 66th |
| Employee saving | 35th |
| Peers that auto-enroll | 70% |
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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
- Saputo Cheese USA put in about $3,006 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 | $22,857,377 |
| Participant (employee) contributions | $37,191,378 |
| Other contributions (incl. rollovers in) | $2,461,643 |
| Administrative expenses paid from the plan | $467,165 |
| Investment advisory & management fees | $70,000 |
| Other admin expenses | $363,165 |
| Benefits paid out | $76,519,899 |
| Net assets, start / end of year | $590.0M / $649.9M |
| Active participants, start / end of year | 7,686 / 7,523 |
| Participants with account balances | 8,440 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Johnson Lambert LLP |
Largest service providers (Schedule C)
| T Rowe Price RPS Inc | $363,524 reported compensation |
| Capfinancial Partners LLC | $70,000 reported compensation |
| Johnson Lambert LLP | $34,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014151301NAL0001595731004, received 2025-10-14, EIN 39-1629977, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.