Bakkavor Foods USA, Inc. 401(k) Review & Grade
Bakkavor Foods USA, Inc. 401(k) Plan
Charlotte, NCAccommodation & Food Services831 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,367Employer $ per active participant
$1,916Employee $ saved per active participant
1.08%Direct admin cost, % of plan assets
$16.0MNet plan assets, end of year
$19,606Average balance per account
Score breakdown
- Employer generosity45.3 / 5091th percentile for employer $ per participant
- Low cost1.4 / 256th percentile for low admin cost vs. same-size plans
- Employee saving12.5 / 1584th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score52 / 100 · Grade C
This plan vs. peers
Peers: Accommodation & Food Services plans with 500–2,499 active participants (458 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 91th |
| Lower admin cost | 6th |
| Employee saving | 84th |
| Peers that auto-enroll | 17% |
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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 ($177,141 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
- Bakkavor Foods USA put in about $1,367 per active participant, more than the typical peer ($266). 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 (1.08% 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 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 | $1,136,209 |
| Participant (employee) contributions | $1,592,140 |
| Other contributions (incl. rollovers in) | $354,441 |
| Administrative expenses paid from the plan | $155,678 |
| Contract administrator fees | $155,678 |
| Benefits paid out | $1,475,985 |
| Net assets, start / end of year | $12.8M / $16.0M |
| Active participants, start / end of year | 827 / 835 |
| Participants with account balances | 817 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Elliott Group Cpas PLLC |
Largest service providers (Schedule C)
| Empower Annuity Ins. Co. | $66,314 reported compensation |
| Sageview Advisory Group, LLC | $40,985 reported compensation |
| Futureplan by Ascensus-Kravitz | $10,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014090126NAL0001146771001, received 2025-10-14, EIN 33-0449057, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.