Westward Seafoods, Inc. 401(k) Review & Grade
Westward Seafoods, Inc. 401(k) Retirement Plan
Bellevue, WAManufacturing810 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,133Employer $ per active participant
$3,698Employee $ saved per active participant
0.28%Direct admin cost, % of plan assets
$46.4MNet plan assets, end of year
$76,940Average balance per account
Score breakdown
- Employer generosity10.1 / 5020th percentile for employer $ per participant
- Low cost10.7 / 2543th percentile for low admin cost vs. same-size plans
- Employee saving4.9 / 1533th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score33 / 100 · Grade D
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 20th |
| Lower admin cost | 43th |
| Employee saving | 33th |
| Peers that auto-enroll | 59% |
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Red flags from the filing
Corrective distributions: the plan refunded $43,432 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Westward Seafoods put in about $1,133 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.
- 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 | $917,386 |
| Participant (employee) contributions | $2,995,515 |
| Other contributions (incl. rollovers in) | $11,234 |
| Administrative expenses paid from the plan | $122,646 |
| Investment advisory & management fees | $30,000 |
| Benefits paid out | $3,657,378 |
| Net assets, start / end of year | $40.4M / $46.4M |
| Active participants, start / end of year | 739 / 881 |
| Participants with account balances | 603 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Baker Tilly US, LLP |
Largest service providers (Schedule C)
| Northwest Plan Services, Inc. | $51,687 reported compensation |
| Duncan & Haley LTD | $30,000 reported compensation |
| Moss Adams, LLP | $22,145 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250925165712NAL0008726801001, received 2025-09-25, EIN 91-1443701, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.