Wakefern Food Corp. 401(k) Review & Grade
Wakefern Food Corporation 401(k) Savings Plan
Keasbey, NJWholesale Trade1,917 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$4,696Employer $ per active participant
$9,606Employee $ saved per active participant
0.08%Direct admin cost, % of plan assets
$478.5MNet plan assets, end of year
$202,742Average balance per account
Score breakdown
- Employer generosity43.9 / 5088th percentile for employer $ per participant
- Low cost19.6 / 2578th percentile for low admin cost vs. same-size plans
- Employee saving13.9 / 1593th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score77 / 100 · Grade A
This plan vs. peers
Peers: Wholesale Trade plans with 500–2,499 active participants (603 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 88th |
| Lower admin cost | 78th |
| Employee saving | 93th |
| Peers that auto-enroll | 53% |
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Red flags from the filing
Corrective distributions: the plan refunded $2,007 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Wakefern Food put in about $4,696 per active participant, more than the typical peer ($1,792). 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.
- 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.
- 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 | $9,002,270 |
| Participant (employee) contributions | $18,415,319 |
| Other contributions (incl. rollovers in) | $1,336,555 |
| Administrative expenses paid from the plan | $375,214 |
| Investment advisory & management fees | $196,066 |
| Other admin expenses | $48,692 |
| Benefits paid out | $50,600,069 |
| Net assets, start / end of year | $430.9M / $478.5M |
| Active participants, start / end of year | 1,897 / 1,937 |
| Participants with account balances | 2,360 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Withumsmith Brown, PC |
Largest service providers (Schedule C)
| Strategic Advisors, Inc. | $196,066 reported compensation |
| Fidelity Investments Institutional | $95,879 reported compensation |
| Newport Capital Group | $48,692 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251002161123NAL0000700945001, received 2025-10-02, EIN 22-1434516, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.