Altria Client Services LLC 401(k) Review & Grade
Deferred Profit-Sharing Plan for Hourly Employees
Richmond, VAManufacturing1,705 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$15,214Employer $ per active participant
$10,009Employee $ saved per active participant
$0 reportedDirect admin cost, % of plan assets
$951.3MNet plan assets, end of year
$297,828Average balance per account
Score breakdown
- Employer generosity49.7 / 5099th percentile for employer $ per participant
- Low cost12.5 / 25No direct expenses reported, scored neutral
- Employee saving13.4 / 1590th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score76 / 100 · Grade A
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 99th |
| Lower admin cost | neutral |
| Employee saving | 90th |
| Peers that auto-enroll | 59% |
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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 ($358,517 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
- Altria Client Services put in about $15,214 per active participant, more than the typical peer ($2,320). 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.
- The plan reported no administrative expenses paid from plan assets. The employer may pay them, or the costs may be built into fund fees. Check your 404(a)(5) fee disclosure for each fund's expense ratio.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- 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 | $25,939,404 |
| Participant (employee) contributions | $17,064,838 |
| Other contributions (incl. rollovers in) | $523,054 |
| Administrative expenses paid from the plan | $0 |
| Benefits paid out | $113,066,892 |
| Net assets, start / end of year | $837.1M / $951.3M |
| Active participants, start / end of year | 1,766 / 1,644 |
| Participants with account balances | 3,194 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Pricewaterhousecoopers LLP |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250609064049NAL0012072739001, received 2025-06-09, EIN 47-2929146, plan #009, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.