Farmers Cooperative 401(k) Review & Grade
Ubg 401(k) - Farmers Cooperative
Dorchester, NEAgriculture, Forestry, Fishing & Hunting580 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$651Employer $ per active participant
$1,966Employee $ saved per active participant
0.24%Direct admin cost, % of plan assets
$27.0MNet plan assets, end of year
$71,394Average balance per account
Score breakdown
- Employer generosity20.5 / 5041th percentile for employer $ per participant
- Low cost12.2 / 2549th percentile for low admin cost vs. same-size plans
- Employee saving7.4 / 1550th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score40 / 100 · Grade D
This plan vs. peers
Peers: Agriculture, Forestry, Fishing & Hunting plans with 500–2,499 active participants (118 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 41th |
| Lower admin cost | 49th |
| Employee saving | 50th |
| Peers that auto-enroll | 36% |
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Red flags from the filing
Corrective distributions: the plan refunded $11,899 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Farmers Cooperative put in about $651 per active participant, below the typical peer ($774). 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.
- 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 | $377,619 |
| Participant (employee) contributions | $1,141,488 |
| Other contributions (incl. rollovers in) | $63,755 |
| Administrative expenses paid from the plan | $63,832 |
| Contract administrator fees | $26,533 |
| Investment advisory & management fees | $5,000 |
| Benefits paid out | $4,166,205 |
| Net assets, start / end of year | $26.3M / $27.0M |
| Active participants, start / end of year | 609 / 552 |
| Participants with account balances | 378 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Gardiner + Company, Cpas |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company O | $32,299 reported compensation |
| United Benefits Group | $26,533 reported compensation |
| Intellicents Investment Solutions I | $5,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250924131620NAL0017157874001, received 2025-09-24, EIN 47-0155629, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.