FPL Food, LLC 401(k) Review & Grade
FPL Food, LLC 401(k) Plan
Augusta, GAManufacturing1,158 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$681Employer $ per active participant
$1,790Employee $ saved per active participant
2.78%Direct admin cost, % of plan assets
$7.5MNet plan assets, end of year
$5,270Average balance per account
Score breakdown
- Employer generosity5.0 / 5010th percentile for employer $ per participant
- Low cost0.1 / 251th percentile for low admin cost vs. same-size plans
- Employee saving1.4 / 159th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score17 / 100 · Grade F
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 10th |
| Lower admin cost | 1th |
| Employee saving | 9th |
| 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
- FPL Food put in about $681 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.
- Direct plan expenses (2.78% 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 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 | $788,562 |
| Participant (employee) contributions | $2,073,217 |
| Other contributions (incl. rollovers in) | $277,506 |
| Administrative expenses paid from the plan | $193,228 |
| Investment advisory & management fees | $43,337 |
| Benefits paid out | $2,704,700 |
| Net assets, start / end of year | $6.4M / $7.5M |
| Active participants, start / end of year | 1,294 / 1,022 |
| Participants with account balances | 1,420 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Elliott Davis |
Largest service providers (Schedule C)
| Adp, Inc. | $149,890 reported compensation |
| Cabot Lodge Securities LLC | $43,337 reported compensation |
| Adp Broker-Dealer | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251006050649NAL0008541170001, received 2025-10-06, EIN 27-0100391, plan #021, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.