Sprouts Farmers Markets Holdings, LLC 401(k) Review & Grade
Sprouts Farmers Markets Holdings, LLC Employee 401(k) Savings Plan
Phoenix, AZRetail Trade31,195 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$289Employer $ per active participant
$1,011Employee $ saved per active participant
0.18%Direct admin cost, % of plan assets
$264.6MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity6.1 / 5012th percentile for employer $ per participant
- Low cost5.0 / 2520th percentile for low admin cost vs. same-size plans
- Employee saving4.0 / 1527th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score5 / 100 · Grade F
This plan vs. peers
Peers: Retail Trade plans with 10,000+ active participants (124 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 12th |
| Lower admin cost | 20th |
| Employee saving | 27th |
| Peers that auto-enroll | 32% |
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Red flags from the filing
Benefits not paid when due: the plan reported failing to pay some benefits on time.
Corrective distributions: the plan refunded $542,060 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Sprouts Farmers Markets Holdings put in about $289 per active participant, below the typical peer ($689). 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 (0.18% of assets) are well above similar-size plans (0.09%). 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 | $9,007,532 |
| Participant (employee) contributions | $31,528,154 |
| Other contributions (incl. rollovers in) | $4,038,035 |
| Administrative expenses paid from the plan | $444,214 |
| Contract administrator fees | $600 |
| Investment advisory & management fees | $129,698 |
| Other admin expenses | $65,085 |
| Benefits paid out | $29,788,488 |
| Net assets, start / end of year | $218.6M / $264.6M |
| Active participants, start / end of year | 26,444 / 35,946 |
| Participants with account balances | 9,850 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Plante & Moran PLLC |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $214,781 reported compensation |
| Strategic Advisors, Inc. | $129,698 reported compensation |
| Mercer (US) Inc | $65,085 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250929092655NAL0004936291001, received 2025-09-29, EIN 45-1076258, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.