Boar's Head Provisions Co., Inc. 401(k) Review & Grade
Boar's Head Provisions Co., Inc. 401(k) and Profit Sharing Plan
Sarasota, FLManufacturing2,886 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,679Employer $ per active participant
$3,795Employee $ saved per active participant
0.06%Direct admin cost, % of plan assets
$193.9MNet plan assets, end of year
$43,801Average balance per account
Score breakdown
- Employer generosity19.6 / 5039th percentile for employer $ per participant
- Low cost18.4 / 2574th percentile for low admin cost vs. same-size plans
- Employee saving3.3 / 1522th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score48 / 100 · Grade C
This plan vs. peers
Peers: Manufacturing plans with 2,500–9,999 active participants (566 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 39th |
| Lower admin cost | 74th |
| Employee saving | 22th |
| Peers that auto-enroll | 70% |
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Red flags from the filing
Corrective distributions: the plan refunded $240,210 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Boar's Head Provisions Co. put in about $2,679 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.
- 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 | $7,730,036 |
| Participant (employee) contributions | $10,949,194 |
| Other contributions (incl. rollovers in) | $514,388 |
| Administrative expenses paid from the plan | $106,847 |
| Investment advisory & management fees | $19,185 |
| Other admin expenses | $87,662 |
| Benefits paid out | $13,058,697 |
| Net assets, start / end of year | $167.4M / $193.9M |
| Active participants, start / end of year | 2,613 / 3,158 |
| Participants with account balances | 4,427 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Pricewaterhousecoopers, LLC |
Largest service providers (Schedule C)
| Strategic Advisors, Inc. | $90,677 reported compensation |
| Fidelity Investments Institutional | $19,185 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014081413NAL0001113443001, received 2025-10-14, EIN 11-0548870, plan #004, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.