Mitchell Grocery Corporation 401(k) Review & Grade
Mitchell Grocery Corporation Profit Sharing/401(k) Plan
Albertville, ALRetail Trade886 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$567Employer $ per active participant
$610Employee $ saved per active participant
0.44%Direct admin cost, % of plan assets
$23.8MNet plan assets, end of year
$28,476Average balance per account
Score breakdown
- Employer generosity20.4 / 5041th percentile for employer $ per participant
- Low cost6.7 / 2527th percentile for low admin cost vs. same-size plans
- Employee saving1.1 / 157th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score31 / 100 · Grade D
This plan vs. peers
Peers: Retail Trade plans with 500–2,499 active participants (719 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 41th |
| Lower admin cost | 27th |
| Employee saving | 7th |
| Peers that auto-enroll | 48% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Mitchell Grocery put in about $567 per active participant, below the typical peer ($743). 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 (0.44% of assets) are well above similar-size plans (0.23%). 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.
- 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 | $502,803 |
| Participant (employee) contributions | $540,538 |
| Other contributions (incl. rollovers in) | $381,688 |
| Administrative expenses paid from the plan | $101,956 |
| Investment advisory & management fees | $45,467 |
| Benefits paid out | $2,773,796 |
| Net assets, start / end of year | $22.1M / $23.8M |
| Active participants, start / end of year | 884 / 888 |
| Participants with account balances | 837 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Warren Averett, LLC |
Largest service providers (Schedule C)
| Capital Group Retirement Plan Svcs. | $56,489 reported compensation |
| Waverly Advisors LLC | $45,467 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20260311151727NAL0005503107001, received 2026-03-11, EIN 63-0499227, plan #002, plan year 2024-07-01 to 2025-06-30. Verify at efast.dol.gov.