Florida Crystals Corporation 401(k) Review & Grade
Florida Crystals Corporation Savings and Investment Plan
West Palm Beach, FLManufacturing1,076 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$4,747Employer $ per active participant
$4,777Employee $ saved per active participant
0.18%Direct admin cost, % of plan assets
$86.6MNet plan assets, end of year
$62,880Average balance per account
Score breakdown
- Employer generosity40.5 / 5081th percentile for employer $ per participant
- Low cost14.2 / 2557th percentile for low admin cost vs. same-size plans
- Employee saving7.1 / 1548th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score62 / 100 · Grade B
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 81th |
| Lower admin cost | 57th |
| Employee saving | 48th |
| Peers that auto-enroll | 59% |
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Red flags from the filing
Corrective distributions: the plan refunded $6,394 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Florida Crystals put in about $4,747 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.
- 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 | $5,107,519 |
| Participant (employee) contributions | $5,139,772 |
| Other contributions (incl. rollovers in) | $942,654 |
| Administrative expenses paid from the plan | $142,868 |
| Contract administrator fees | $1,200 |
| Investment advisory & management fees | $44,398 |
| Benefits paid out | $4,378,147 |
| Net assets, start / end of year | $69.1M / $86.6M |
| Active participants, start / end of year | 1,029 / 1,123 |
| Participants with account balances | 1,377 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Jacobyandhandley,pllc |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $98,520 reported compensation |
| Strategic Advisors, Inc. | $44,398 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015105717NAL0004347489001, received 2025-10-15, EIN 65-0358467, plan #004, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.