Chiquita Brands International 401(k) Review & Grade
Chiquita/fresh Express Savings and Investment Plan
FT. Lauderdale, INWholesale Trade1,966 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,062Employer $ per active participant
$3,164Employee $ saved per active participant
0.20%Direct admin cost, % of plan assets
$156.5MNet plan assets, end of year
$98,292Average balance per account
Score breakdown
- Employer generosity13.1 / 5026th percentile for employer $ per participant
- Low cost13.5 / 2554th percentile for low admin cost vs. same-size plans
- Employee saving3.7 / 1524th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score20 / 100 · Grade F
This plan vs. peers
Peers: Wholesale Trade plans with 500–2,499 active participants (603 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 26th |
| Lower admin cost | 54th |
| Employee saving | 24th |
| Peers that auto-enroll | 53% |
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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 ($156,392 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $46,217 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Chiquita Brands International put in about $1,062 per active participant, below the typical peer ($1,792). 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 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 | $2,087,643 |
| Participant (employee) contributions | $6,222,281 |
| Other contributions (incl. rollovers in) | $443,425 |
| Administrative expenses paid from the plan | $311,733 |
| Investment advisory & management fees | $56,564 |
| Benefits paid out | $18,248,134 |
| Net assets, start / end of year | $149.8M / $156.5M |
| Active participants, start / end of year | 1,944 / 1,989 |
| Participants with account balances | 1,592 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Bdo USA P.C. |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company O | $201,147 reported compensation |
| Ubs Financial Services Inc | $43,464 reported compensation |
| Bdo USA, LLP | $34,239 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014132245NAL0006042450001, received 2025-10-14, EIN 04-1923360, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.