B. Fernandez & Hnos., Inc. 401(k) Review & Grade
B. Fernandez & Hnos., Inc. Retirement Savings Plan
San Juan, PRWholesale Trade937 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$672Employer $ per active participant
$1,797Employee $ saved per active participant
0.68%Direct admin cost, % of plan assets
$28.0MNet plan assets, end of year
$31,689Average balance per account
Score breakdown
- Employer generosity6.2 / 5012th percentile for employer $ per participant
- Low cost3.4 / 2514th percentile for low admin cost vs. same-size plans
- Employee saving1.6 / 1510th percentile for employee $ per participant
- Plan features0 / 10No auto-enrollment or default investment reported
- Red-flag deductions-10 pts1 issue reported on the filing
Total score1 / 100 · Grade F
This plan vs. peers
Peers: Wholesale Trade plans with 500–2,499 active participants (603 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 12th |
| Lower admin cost | 14th |
| Employee saving | 10th |
| 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 ($49,303 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
- B. Fernandez & Hnos. put in about $672 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.
- Direct plan expenses (0.68% 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.
- 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 | $629,853 |
| Participant (employee) contributions | $1,684,217 |
| Other contributions (incl. rollovers in) | $206,249 |
| Administrative expenses paid from the plan | $181,383 |
| Other admin expenses | $181,383 |
| Benefits paid out | $2,867,304 |
| Net assets, start / end of year | $25.4M / $28.0M |
| Active participants, start / end of year | 924 / 950 |
| Participants with account balances | 882 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Galindez LLC |
Largest service providers (Schedule C)
| Empower Annuity Insurance Co | $98,985 reported compensation |
| Onedigital Investment Advisors LLC | $85,979 reported compensation |
| A & a Employee Benefits Consulting | $20,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251008100023NAL0005373473001, received 2025-10-08, EIN 66-0209037, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.