Trim-Rite, Inc. 401(k) Review & Grade
Trim-Rite Food Corporation Retirement Savings Plan and Trust
Carpentersville, ILWholesale Trade532 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$827Employer $ per active participant
$1,652Employee $ saved per active participant
0.33%Direct admin cost, % of plan assets
$27.6MNet plan assets, end of year
$71,598Average balance per account
Score breakdown
- Employer generosity9.1 / 5018th percentile for employer $ per participant
- Low cost9.3 / 2537th percentile for low admin cost vs. same-size plans
- Employee saving1.4 / 159th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score10 / 100 · Grade F
This plan vs. peers
Peers: Wholesale Trade plans with 500–2,499 active participants (603 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 18th |
| Lower admin cost | 37th |
| Employee saving | 9th |
| Peers that auto-enroll | 53% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($17,519 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $806 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Trim-Rite put in about $827 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 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 | $439,303 |
| Participant (employee) contributions | $878,129 |
| Other contributions (incl. rollovers in) | $1,751 |
| Administrative expenses paid from the plan | $83,519 |
| Other admin expenses | $83,519 |
| Benefits paid out | $612,347 |
| Net assets, start / end of year | $23.0M / $27.6M |
| Active participants, start / end of year | 515 / 548 |
| Participants with account balances | 385 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Plante & Moran, PLLC |
Largest service providers (Schedule C)
| Ameriprise Financial Services, Inc. | $43,248 reported compensation |
| Trim-Rite Food Corp. | $4,313 reported compensation |
| Voya Retirement Advisors, LLC | $1,326 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251007103745NAL0004636945001, received 2025-10-07, EIN 36-3873555, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.