Amick Farms, LLC 401(k) Review & Grade
Amick Farms, LLC 401(k) Plan
Batesburg, SCManufacturing3,328 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,252Employer $ per active participant
$2,417Employee $ saved per active participant
0.53%Direct admin cost, % of plan assets
$59.0MNet plan assets, end of year
$12,260Average balance per account
Score breakdown
- Employer generosity7.3 / 5015th percentile for employer $ per participant
- Low cost2.9 / 2512th percentile for low admin cost vs. same-size plans
- Employee saving1.6 / 1511th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score22 / 100 · Grade F
This plan vs. peers
Peers: Manufacturing plans with 2,500–9,999 active participants (566 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 15th |
| Lower admin cost | 12th |
| Employee saving | 11th |
| Peers that auto-enroll | 70% |
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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
- Amick Farms put in about $1,252 per active participant, below the typical peer ($3,452). 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 (0.53% of assets) are well above similar-size plans (0.12%). 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 | $4,165,749 |
| Participant (employee) contributions | $8,042,531 |
| Other contributions (incl. rollovers in) | $618,752 |
| Administrative expenses paid from the plan | $282,003 |
| Investment advisory & management fees | $36,278 |
| Other admin expenses | $79,651 |
| Benefits paid out | $6,202,249 |
| Net assets, start / end of year | $46.9M / $59.0M |
| Active participants, start / end of year | 3,418 / 3,237 |
| Participants with account balances | 4,813 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Elliott Davis |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company | $235,725 reported compensation |
| Onedigital Investment Advisors LLC | $36,278 reported compensation |
| Resources Investment Advisors Inc | $10,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251003084705NAL0002965634001, received 2025-10-03, EIN 76-0836672, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.