Foothill Packing, Inc. 401(k) Review & Grade
Foothill Packing, Inc. 401(k) Plan
Salinas, CAAgriculture, Forestry, Fishing & Hunting3,099 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$147Employer $ per active participant
$225Employee $ saved per active participant
1.03%Direct admin cost, % of plan assets
$12.6MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity5.9 / 5012th percentile for employer $ per participant
- Low cost1.1 / 254th percentile for low admin cost vs. same-size plans
- Employee saving0.6 / 154th percentile for employee $ per participant
- Plan features0 / 10No auto-enrollment or default investment reported
Total score8 / 100 · Grade F
This plan vs. peers
Peers: all industries, plans with 2,500–9,999 active participants (fewer than 30 industry peers) (2,386 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 12th |
| Lower admin cost | 4th |
| Employee saving | 4th |
| Peers that auto-enroll | 52% |
Get the monthly 401(k) report card
The best and worst plans, new grades as filings post. One email a month, no spam.
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
- Foothill Packing put in about $147 per active participant, below the typical peer ($2,062). 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 (1.03% of assets) are well above similar-size plans (0.12%). 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.
- 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 | $455,979 |
| Participant (employee) contributions | $698,746 |
| Other contributions (incl. rollovers in) | $33,494 |
| Administrative expenses paid from the plan | $124,291 |
| Contract administrator fees | $124,291 |
| Benefits paid out | $964,316 |
| Net assets, start / end of year | $11.5M / $12.6M |
| Active participants, start / end of year | 1,579 / 4,619 |
| Participants with account balances | 844 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Priest Amistadi |
Largest service providers (Schedule C)
| Transamerica Retirement Solutions | $140,712 reported compensation |
| Osborne & Assocaites, Inc. | $16,928 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013144107NAL0001445793001, received 2025-10-13, EIN 77-0314932, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.