Del Monte Fresh Produce Company 401(k) Review & Grade
Del Monte Fresh Produce Company Incentive Savings & Security Plan
Coral Gables, FLManufacturing1,112 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,642Employer $ per active participant
$4,453Employee $ saved per active participant
0.31%Direct admin cost, % of plan assets
$92.4MNet plan assets, end of year
$78,614Average balance per account
Score breakdown
- Employer generosity17.0 / 5034th percentile for employer $ per participant
- Low cost10.0 / 2540th percentile for low admin cost vs. same-size plans
- Employee saving6.5 / 1543th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score41 / 100 · Grade D
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 34th |
| Lower admin cost | 40th |
| Employee saving | 43th |
| Peers that auto-enroll | 59% |
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Red flags from the filing
Corrective distributions: the plan refunded $117,700 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Del Monte Fresh Produce put in about $1,642 per active participant, below the typical peer ($2,320). 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.
- 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 | $1,827,016 |
| Participant (employee) contributions | $4,954,154 |
| Other contributions (incl. rollovers in) | $2,263,874 |
| Administrative expenses paid from the plan | $272,261 |
| Other admin expenses | $49,375 |
| Benefits paid out | $13,177,534 |
| Net assets, start / end of year | $85.7M / $92.4M |
| Active participants, start / end of year | 1,170 / 1,055 |
| Participants with account balances | 1,176 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Socorro Partners |
Largest service providers (Schedule C)
| Merrill Lynch, Pierce, Fenner and S | $173,507 reported compensation |
| Socorro Partners | $27,500 reported compensation |
| RSM US LLP | $21,879 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015104943NAL0004632177001, received 2025-10-15, EIN 56-1529290, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.