High Liner Foods (USA), Incorporated 401(k) Review & Grade
High Liner Foods (USA) 401(k) Savings Plan
Portsmouth, NHManufacturing658 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,779Employer $ per active participant
$4,257Employee $ saved per active participant
0.15%Direct admin cost, % of plan assets
$71.7MNet plan assets, end of year
$117,767Average balance per account
Score breakdown
- Employer generosity18.7 / 5037th percentile for employer $ per participant
- Low cost15.7 / 2563th percentile for low admin cost vs. same-size plans
- Employee saving6.1 / 1540th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score34 / 100 · Grade D
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 37th |
| Lower admin cost | 63th |
| Employee saving | 40th |
| Peers that auto-enroll | 59% |
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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 ($53,887 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
- High Liner Foods (USA), Incorporated put in about $1,779 per active participant, below the typical peer ($2,320). 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 | $1,170,425 |
| Participant (employee) contributions | $2,801,362 |
| Other contributions (incl. rollovers in) | $228,073 |
| Administrative expenses paid from the plan | $109,537 |
| Contract administrator fees | $8,801 |
| Investment advisory & management fees | $12,787 |
| Other admin expenses | $49,841 |
| Benefits paid out | $10,916,487 |
| Net assets, start / end of year | $71.4M / $71.7M |
| Active participants, start / end of year | 664 / 652 |
| Participants with account balances | 609 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Caron & Bletzer PLLC |
Largest service providers (Schedule C)
| Mayflower Financial Advisors LLC | $50,000 reported compensation |
| Empower Annuity Insurance Company O | $46,909 reported compensation |
| Caron & Bletzer PLLC | $13,800 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014162053NAL0003267985001, received 2025-10-14, EIN 01-0246085, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.