Fleet Farm Wholesale Supply Company, LLC 401(k) Review & Grade
Fleet Farm 401(k)plan
Appleton, WIRetail Trade5,139 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$298Employer $ per active participant
$1,131Employee $ saved per active participant
0.23%Direct admin cost, % of plan assets
$144.4MNet plan assets, end of year
$25,033Average balance per account
Score breakdown
- Employer generosity11.5 / 5023th percentile for employer $ per participant
- Low cost7.4 / 2530th percentile for low admin cost vs. same-size plans
- Employee saving4.0 / 1527th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score23 / 100 · Grade F
This plan vs. peers
Peers: Retail Trade plans with 2,500–9,999 active participants (183 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 23th |
| Lower admin cost | 30th |
| Employee saving | 27th |
| Peers that auto-enroll | 42% |
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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 ($476,438 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
- Fleet Farm Wholesale Supply Company put in about $298 per active participant, below the typical peer ($650). 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 (0.23% 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 auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- 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 | $1,530,380 |
| Participant (employee) contributions | $5,810,220 |
| Other contributions (incl. rollovers in) | $879,154 |
| Administrative expenses paid from the plan | $333,413 |
| Contract administrator fees | $332,692 |
| Investment advisory & management fees | $721 |
| Benefits paid out | $23,018,710 |
| Net assets, start / end of year | $140.1M / $144.4M |
| Active participants, start / end of year | 5,341 / 4,937 |
| Participants with account balances | 5,767 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | John A. Knutson & Co., Pllp |
Largest service providers (Schedule C)
| John Hancock | $333,413 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251009083817NAL0003423283001, received 2025-10-09, EIN 41-0806238, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.