J.R. Simplot Company 401(k) Review & Grade
Simplot Retirement Savings Plan
Boise, IDManufacturing9,013 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$5,071Employer $ per active participant
$7,576Employee $ saved per active participant
0.07%Direct admin cost, % of plan assets
$1.6BNet plan assets, end of year
$126,206Average balance per account
Score breakdown
- Employer generosity35.1 / 5070th percentile for employer $ per participant
- Low cost17.0 / 2568th percentile for low admin cost vs. same-size plans
- Employee saving9.7 / 1565th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score62 / 100 · Grade B
This plan vs. peers
Peers: Manufacturing plans with 2,500–9,999 active participants (566 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 70th |
| Lower admin cost | 68th |
| Employee saving | 65th |
| Peers that auto-enroll | 70% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($127,783 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- J.R. Simplot put in about $5,071 per active participant, more than the typical peer ($3,452). 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.
- The plan reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- 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 | $45,708,997 |
| Participant (employee) contributions | $68,281,005 |
| Other contributions (incl. rollovers in) | $9,114,215 |
| Administrative expenses paid from the plan | $1,045,831 |
| Contract administrator fees | $104,650 |
| Investment advisory & management fees | $436,497 |
| Other admin expenses | $116,992 |
| Benefits paid out | $140,491,857 |
| Net assets, start / end of year | $1.4B / $1.6B |
| Active participants, start / end of year | 9,012 / 9,014 |
| Participants with account balances | 12,362 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Cbiz Cpas P.C. |
Largest service providers (Schedule C)
| T Rowe Price RPS Inc | $460,475 reported compensation |
| Edelman Financial Engines | $330,497 reported compensation |
| Verus | $107,809 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250702124347NAL0019821264001, received 2025-07-02, EIN 82-0196611, plan #004, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.