Bay State Milling Company 401(k) Review & Grade
The Bay State Milling Company Retirement Plan
Quincy, MAManufacturing616 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3,943Employer $ per active participant
$9,616Employee $ saved per active participant
0.08%Direct admin cost, % of plan assets
$92.0MNet plan assets, end of year
$117,062Average balance per account
Score breakdown
- Employer generosity37.2 / 5074th percentile for employer $ per participant
- Low cost19.8 / 2579th percentile for low admin cost vs. same-size plans
- Employee saving13.3 / 1588th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score80 / 100 · Grade A
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 74th |
| Lower admin cost | 79th |
| Employee saving | 88th |
| Peers that auto-enroll | 59% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Bay State Milling put in about $3,943 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.
- 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 auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- 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 | $2,428,709 |
| Participant (employee) contributions | $5,923,195 |
| Other contributions (incl. rollovers in) | $263,168 |
| Administrative expenses paid from the plan | $68,005 |
| Investment advisory & management fees | $11,388 |
| Other admin expenses | $44,543 |
| Benefits paid out | $7,439,589 |
| Net assets, start / end of year | $80.2M / $92.0M |
| Active participants, start / end of year | 603 / 629 |
| Participants with account balances | 786 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | RSM US LLP |
Largest service providers (Schedule C)
| Fiducient Advisors | $44,546 reported compensation |
| T Rowe Price RPS Inc | $12,074 reported compensation |
| Napatree Capital LLC | $11,388 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251009200903NAL0007066241001, received 2025-10-09, EIN 41-0141850, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.