Dairyland USA Corp. 401(k) Review & Grade
The Chef's Warehouse 401(k) Profit Sharing Plan & Trust
Ridgefield, CTWholesale Trade4,870 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$709Employer $ per active participant
$2,198Employee $ saved per active participant
0.25%Direct admin cost, % of plan assets
$117.3MNet plan assets, end of year
$47,589Average balance per account
Score breakdown
- Employer generosity4.9 / 5010th percentile for employer $ per participant
- Low cost6.9 / 2528th percentile for low admin cost vs. same-size plans
- Employee saving2.4 / 1516th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score4 / 100 · Grade F
This plan vs. peers
Peers: Wholesale Trade plans with 2,500–9,999 active participants (103 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 10th |
| Lower admin cost | 28th |
| Employee saving | 16th |
| Peers that auto-enroll | 62% |
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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 ($3,516,941 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $723,646 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Dairyland USA put in about $709 per active participant, below the typical peer ($2,459). 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 (0.25% 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 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 | $3,452,230 |
| Participant (employee) contributions | $10,702,755 |
| Other contributions (incl. rollovers in) | $1,786,359 |
| Administrative expenses paid from the plan | $273,568 |
| Contract administrator fees | $273,568 |
| Benefits paid out | $10,795,010 |
| Net assets, start / end of year | $99.2M / $117.3M |
| Active participants, start / end of year | 4,541 / 5,198 |
| Participants with account balances | 2,464 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | PKF O'connor Davies, LLP |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $273,497 reported compensation |
| Creative Planning Inc | $60,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251010115208NAL0004567859001, received 2025-10-10, EIN 13-3286147, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.