Sugar Cane Growers Cooperative of Florida 401(k) Review & Grade
Sugar Cane Growers Cooperative of Florida 401(k) Plan
Belle Glade, FLAgriculture, Forestry, Fishing & Hunting527 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3,863Employer $ per active participant
$4,552Employee $ saved per active participant
0.40%Direct admin cost, % of plan assets
$41.1MNet plan assets, end of year
$68,927Average balance per account
Score breakdown
- Employer generosity45.3 / 5091th percentile for employer $ per participant
- Low cost7.6 / 2530th percentile for low admin cost vs. same-size plans
- Employee saving11.9 / 1579th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score75 / 100 · Grade A
This plan vs. peers
Peers: Agriculture, Forestry, Fishing & Hunting plans with 500–2,499 active participants (118 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 91th |
| Lower admin cost | 30th |
| Employee saving | 79th |
| Peers that auto-enroll | 36% |
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
- Sugar Cane Growers Cooperative of Florida put in about $3,863 per active participant, more than the typical peer ($774). 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.
- Direct plan expenses (0.40% 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 | $2,035,878 |
| Participant (employee) contributions | $2,399,141 |
| Other contributions (incl. rollovers in) | $220,286 |
| Administrative expenses paid from the plan | $158,144 |
| Contract administrator fees | $12,662 |
| Investment advisory & management fees | $80,000 |
| Benefits paid out | $5,289,882 |
| Net assets, start / end of year | $37.7M / $41.1M |
| Active participants, start / end of year | 470 / 584 |
| Participants with account balances | 597 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Jacoby and Handley, PLLC |
Largest service providers (Schedule C)
| Mma Securities | $80,000 reported compensation |
| Fidelity Workplace Services LLC | $78,144 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251002125053NAL0000310403001, received 2025-10-02, EIN 59-0936222, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.