Ready Pac Produce, Inc. 401(k) Review & Grade
Ready Pac Foods, Inc. 401(k) Retirement Savings Plan
Irwindale, CAWholesale Trade2,334 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$472Employer $ per active participant
$2,441Employee $ saved per active participant
0.52%Direct admin cost, % of plan assets
$66.4MNet plan assets, end of year
$26,273Average balance per account
Score breakdown
- Employer generosity4.3 / 509th percentile for employer $ per participant
- Low cost5.4 / 2522th percentile for low admin cost vs. same-size plans
- Employee saving2.3 / 1515th percentile for employee $ per participant
- Plan features0 / 10No auto-enrollment or default investment reported
- Red-flag deductions-3 pts1 issue reported on the filing
Total score9 / 100 · Grade F
This plan vs. peers
Peers: Wholesale Trade plans with 500–2,499 active participants (603 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 9th |
| Lower admin cost | 22th |
| Employee saving | 15th |
| Peers that auto-enroll | 53% |
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Red flags from the filing
Corrective distributions: the plan refunded $133,044 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Ready Pac Produce put in about $472 per active participant, below the typical peer ($1,792). 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 (0.52% 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 | $1,100,338 |
| Participant (employee) contributions | $5,696,111 |
| Other contributions (incl. rollovers in) | $343,995 |
| Administrative expenses paid from the plan | $330,624 |
| Investment advisory & management fees | $84,495 |
| Benefits paid out | $7,385,184 |
| Net assets, start / end of year | $60.1M / $66.4M |
| Active participants, start / end of year | 2,210 / 2,457 |
| Participants with account balances | 2,529 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Miller Kaplan Arase LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $230,929 reported compensation |
| NFP Retirement Inc | $69,947 reported compensation |
| Miller Kaplan Arase LLP | $15,200 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015171204NAL0010489170001, received 2025-10-15, EIN 95-2628613, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.