Porto's Bakery, Inc. 401(k) Review & Grade
Porto's Bakery, Inc. 401(k) Plan
Burbank, CARetail Trade1,423 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$354Employer $ per active participant
$1,138Employee $ saved per active participant
0.39%Direct admin cost, % of plan assets
$10.0MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity13.6 / 5027th percentile for employer $ per participant
- Low cost7.9 / 2531th percentile for low admin cost vs. same-size plans
- Employee saving2.8 / 1519th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score24 / 100 · Grade F
This plan vs. peers
Peers: Retail Trade plans with 500–2,499 active participants (719 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 27th |
| Lower admin cost | 31th |
| Employee saving | 19th |
| Peers that auto-enroll | 48% |
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Red flags from the filing
Corrective distributions: the plan refunded $69,447 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Porto's Bakery put in about $354 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 (0.39% 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 | $503,757 |
| Participant (employee) contributions | $1,619,043 |
| Other contributions (incl. rollovers in) | $11,982 |
| Administrative expenses paid from the plan | $34,060 |
| Contract administrator fees | $34,060 |
| Benefits paid out | $471,061 |
| Net assets, start / end of year | $7.5M / $10.0M |
| Active participants, start / end of year | 1,248 / 1,598 |
| Participants with account balances | 626 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Rivera, Jamjian & Associates, LLP |
Largest service providers (Schedule C)
| Actuarial Benefits Corp. | $12,586 reported compensation |
| Transamerica Retirement Solutions, | $9,157 reported compensation |
| Transamerica Life Insurance Company | $6,332 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251010165810NAL0018556562001, received 2025-10-10, EIN 95-4610775, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.