The Fresh Market, Inc. 401(k) Review & Grade
The Fresh Market, Inc. Employees 401(k) Savings Plan
Greensboro, NCRetail Trade7,325 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$477Employer $ per active participant
$1,034Employee $ saved per active participant
0.47%Direct admin cost, % of plan assets
$78.8MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity18.1 / 5036th percentile for employer $ per participant
- Low cost3.5 / 2514th percentile for low admin cost vs. same-size plans
- Employee saving3.2 / 1521th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score18 / 100 · Grade F
This plan vs. peers
Peers: Retail Trade plans with 2,500–9,999 active participants (183 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 36th |
| Lower admin cost | 14th |
| Employee saving | 21th |
| Peers that auto-enroll | 42% |
Get the monthly 401(k) report card
The best and worst plans, new grades as filings post. One email a month, no spam.
Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($488 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- Fresh Market put in about $477 per active participant, below the typical peer ($650). 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 (0.47% of assets) are well above similar-size plans (0.12%). 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 reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- 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 | $3,496,506 |
| Participant (employee) contributions | $7,572,628 |
| Other contributions (incl. rollovers in) | $2,276,908 |
| Administrative expenses paid from the plan | $345,704 |
| Contract administrator fees | $284,408 |
| Investment advisory & management fees | $37,500 |
| Other admin expenses | $21,141 |
| Benefits paid out | $12,891,419 |
| Net assets, start / end of year | $68.7M / $78.8M |
| Active participants, start / end of year | 7,260 / 7,390 |
| Participants with account balances | 2,762 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Smith Leonard PLLC |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $284,408 reported compensation |
| Mma Securities LLC | $37,500 reported compensation |
| Smith Leonard PLLC | $21,141 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250821095122NAL0004042577001, received 2025-08-21, EIN 56-1311233, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.