Ag-Pro, LLC 401(k) Review & Grade
Ag-Pro Companies 401(k) Plan
Boston, GARetail Trade1,218 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$885Employer $ per active participant
$2,488Employee $ saved per active participant
0.70%Direct admin cost, % of plan assets
$45.2MNet plan assets, end of year
$51,972Average balance per account
Score breakdown
- Employer generosity28.3 / 5057th percentile for employer $ per participant
- Low cost3.2 / 2513th percentile for low admin cost vs. same-size plans
- Employee saving6.2 / 1541th percentile for employee $ per participant
- Plan features0 / 10No auto-enrollment or default investment reported
- Red-flag deductions-3 pts1 issue reported on the filing
Total score35 / 100 · Grade D
This plan vs. peers
Peers: Retail Trade plans with 500–2,499 active participants (719 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 57th |
| Lower admin cost | 13th |
| Employee saving | 41th |
| Peers that auto-enroll | 48% |
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Red flags from the filing
Corrective distributions: the plan refunded $146,792 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Ag-Pro put in about $885 per active participant, more than the typical peer ($743). 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 (0.70% 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 | $1,077,820 |
| Participant (employee) contributions | $3,029,254 |
| Other contributions (incl. rollovers in) | $239,802 |
| Administrative expenses paid from the plan | $300,306 |
| Contract administrator fees | $10,726 |
| Investment advisory & management fees | $131,037 |
| Benefits paid out | $4,858,778 |
| Net assets, start / end of year | $40.6M / $45.2M |
| Active participants, start / end of year | 1,277 / 1,158 |
| Participants with account balances | 870 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Lanigan & Associates, PC |
Largest service providers (Schedule C)
| Thomasville National Bank | $131,037 reported compensation |
| John Hancock Life Insurance Co. | $18,509 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250922122857NAL0012257058001, received 2025-09-22, EIN 80-0879222, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.