Seaboard Foods LLC 401(k) Review & Grade

Retirement Savings Plan for Union Employees of Seaboard Foods

Shawnee Mission, KSManufacturing2,464 active participantsPlan year 2024

Estimate from the plan's Form 5500 filing · How we grade

$654Employer $ per active participant

$730Employee $ saved per active participant

$0 reportedDirect admin cost, % of plan assets

$15.7MNet plan assets, end of year

$6,636Average balance per account

Score breakdown

Employer generosity4.8 / 50
10th percentile for employer $ per participant
Low cost12.5 / 25
No direct expenses reported, scored neutral
Employee saving0.3 / 15
2th percentile for employee $ per participant
Plan features3 / 10
Default investment
Red-flag deductions-10 pts
1 issue reported on the filing

Total score11 / 100 · Grade F

This plan vs. peers

Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).

Measure	Percentile
Employer $ per participant	10th
Lower admin cost	neutral
Employee saving	2th
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 ($27,148 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

Seaboard Foods put in about $654 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.
The plan reported no administrative expenses paid from plan assets. The employer may pay them, or the costs may be built into fund fees. Check your 404(a)(5) fee disclosure for each fund's expense ratio.
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	$1,611,051
Participant (employee) contributions	$1,798,069
Other contributions (incl. rollovers in)	$69,298
Administrative expenses paid from the plan	$0
Benefits paid out	$2,454,358
Net assets, start / end of year	$13.0M / $15.7M
Active participants, start / end of year	2,375 / 2,553
Participants with account balances	2,363
Auto-enrollment (feature code 2S)	Not reported
Auditor	Forvis Mazars, LLP

Largest service providers (Schedule C)

Merrill Lynch, Pierce, Fenner and S

$73,622 reported compensation

Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014135328NAL0001493539001, received 2025-10-14, EIN 90-0279283, plan #020, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.