Hilmar Cheese Company 401(k) Review & Grade
Hilmar Cheese Company Profit Sharing 401(k) Plan
Hilmar, CAManufacturing1,672 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$5,158Employer $ per active participant
$5,470Employee $ saved per active participant
0.07%Direct admin cost, % of plan assets
$236.9MNet plan assets, end of year
$108,501Average balance per account
Score breakdown
- Employer generosity41.9 / 5084th percentile for employer $ per participant
- Low cost20.4 / 2582th percentile for low admin cost vs. same-size plans
- Employee saving8.7 / 1558th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score81 / 100 · Grade A
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 84th |
| Lower admin cost | 82th |
| Employee saving | 58th |
| 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
- Hilmar Cheese put in about $5,158 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 | $8,624,203 |
| Participant (employee) contributions | $9,146,430 |
| Other contributions (incl. rollovers in) | $839,771 |
| Administrative expenses paid from the plan | $155,686 |
| Benefits paid out | $19,059,655 |
| Net assets, start / end of year | $208.0M / $236.9M |
| Active participants, start / end of year | 1,582 / 1,762 |
| Participants with account balances | 2,183 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Baker Tilly US, LLP |
Largest service providers (Schedule C)
| Schwab Retirement Plan Services Inc | $155,086 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251002101548NAL0000995826001, received 2025-10-02, EIN 77-0026482, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.