Niemann Foods, Inc. 401(k) Review & Grade
Niemann Foods, Inc. 401(k) Profit Sharing Plan
Quincy, ILRetail Trade3,161 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$356Employer $ per active participant
$572Employee $ saved per active participant
0.33%Direct admin cost, % of plan assets
$61.2MNet plan assets, end of year
$36,022Average balance per account
Score breakdown
- Employer generosity14.0 / 5028th percentile for employer $ per participant
- Low cost5.1 / 2521th percentile for low admin cost vs. same-size plans
- Employee saving1.0 / 157th percentile for employee $ per participant
- Plan features3 / 10Default investment
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 | 28th |
| Lower admin cost | 21th |
| Employee saving | 7th |
| Peers that auto-enroll | 42% |
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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
- Niemann Foods put in about $356 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 (0.33% 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.
- 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 | $1,123,974 |
| Participant (employee) contributions | $1,806,887 |
| Other contributions (incl. rollovers in) | $175,031 |
| Administrative expenses paid from the plan | $199,412 |
| Contract administrator fees | $199,412 |
| Benefits paid out | $11,540,516 |
| Net assets, start / end of year | $61.0M / $61.2M |
| Active participants, start / end of year | 3,073 / 3,249 |
| Participants with account balances | 1,698 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Gray Hunter Stenn LLP |
| Employer stock held by plan | $1,250,456 |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $200,301 reported compensation |
| Wells Fargo Clearing Services LLC | $55,689 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250910120015NAL0013421443001, received 2025-09-10, EIN 37-0475125, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.