Ferrara Candy 401(k) match, vesting and fees
What Ferrara Candy's 401(k) plan says about matching contributions
The Company makes a safe harbor employer matching contribution equal to 100% of a participant’s elective deferral not exceeding 1% of the participant’s compensation, plus 50% of each participant's elective deferrals in excess of 1% but not in excess of 6% of the participant's compensation.
Quoted directly from the filing. Plan terms may have changed; check your current Summary Plan Description.
Plan features
Indented passages are quoted word for word from the audit report; plan terms may have changed since, so check your current Summary Plan Description.
| Employer match | Quoted from the filing above | Audit report, p. 34 ↗ |
| Match vesting | Participants are immediately vested in their contributions plus actual earnings thereon. The vesting schedule for Company contributions beginning on January 1, 2015, was changed to 100% vesting after completing two years of service for the employer safe harbor matching contributions. Vesting of non-elective contributions varies depending on the group of employees and their affiliated former employer prior to joining the Company as an employee. Vesting ranges from vesting after five years of service to being immediately 100% vested as defined in the Plan document. | Audit report, p. 34 ↗ |
| Automatic enrollment | The Plan has auto-enrollment at an initial rate of 3%, with automatic deferral percentage increase up to 6% of compensation. | Audit report, p. 34 ↗ |
| Roth contributions | Participants may elect to contribute pre-tax earnings and/or Roth contributions up to current Internal Revenue Service (“IRS”) regulations. Effective April 1, 2018, former Nestlé Employees and New Legacy Nestlé Confectionary Employees shall not be permitted to make Roth deferrals under the Plan. | Audit report, p. 33 ↗ |
| Loans | Participants may borrow from their account a minimum loan of $1,000 and up to a maximum amount equal to the lesser of $50,000 or 50 percent of their vested account balance. The loans are secured by the balance in the participant’s account and bear interest at rates at the prime rate plus 1%. Principal and interest are paid ratably through payroll deductions. The participants may have one loan outstanding at any time. | Audit report, p. 35 ↗ |
| Recordkeeper | Empower Annuity Insurance Company | Schedule C ↗ |
| Independent auditor | Porte Brown (unmodified opinion, limited scope) | Schedule H ↗ |
| Plan type and status | 401(k) · Active | Form 5500 ↗ |
All rows are from the plan year 2024 filing; plan features from its audit report.
How the plan compares
Plan year 2024 medians for 1,619 defined-contribution plans in manufacturing with 1,000 to 4,999 participants.
| Ferrara Candy: employer contribution per participant | $2,896 | |
| Peer median | $2,413 |
| Ferrara Candy: average balance | $63,477 | |
| Peer median | $86,456 |
| Ferrara Candy: admin expenses ÷ assets | 0.23% | |
| Peer median | 0.12% |
Admin expenses are the plan's reported administrative expenses divided by its assets; they do not include fund expense ratios.
Plan history
Plan assets went from $210M at the end of plan year 2021 to $217M at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 3,554 | $217M | $9.9M | $2,896 | 0.23% | Quoted in the audit report, p. 34 ↗ | Form 5500 ↗ |
| 2023 | 3,294 | $189M | $8.5M | $2,671 | 0.26% | Not published | Form 5500 ↗ |
| 2022 | 3,594 | $169M | $9.7M | $2,831 | 0.28% | Not published | Form 5500 ↗ |
| 2021 | 4,160 | $210M | $9.8M | $2,430 | 0.24% | Not published | Form 5500 ↗ |
Other Ferrara Candy plans (1)
Each plan files its own Form 5500. Figures are from each plan's latest filing.
Ferrara Candy Company 401(k) Plan for Collective Bargaining Unit Employees
Plan features
Match, vesting and enrollment details have not been published from this plan's audit report yet. The figures below come from the structured filing.
| Recordkeeper | Empower Annuity Insurance Company O | Schedule C ↗ |
| Independent auditor | Porte Brown (unmodified opinion, limited scope) | Schedule H ↗ |
| Plan type and status | 401(k) · Terminated (final filing) | Form 5500 ↗ |
Common questions
Does Ferrara Candy match 401(k) contributions?
The audit report attached to the Ferrara Candy Company 401(k) Plan's plan year 2024 Form 5500, page 34 says: “The Company makes a safe harbor employer matching contribution equal to 100% of a participant’s elective deferral not exceeding 1% of the participant’s compensation, plus 50% of each participant's elective deferrals in excess of 1% but not in excess of 6% of the participant's compensation.” Plan terms may have changed; check your current Summary Plan Description.
When is the Ferrara Candy 401(k) match vested?
The audit report attached to the plan year 2024 Form 5500, page 34 says: “Participants are immediately vested in their contributions plus actual earnings thereon. The vesting schedule for Company contributions beginning on January 1, 2015, was changed to 100% vesting after completing two years of service for the employer safe harbor matching contributions. Vesting of non-elective contributions varies depending on the group of employees and their affiliated former employer prior to joining the Company as an employee. Vesting ranges from vesting after five years of service to being immediately 100% vested as defined in the Plan document.”
Who manages the Ferrara Candy 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is Empower Annuity Insurance Company. The plan administrator is Ferrara Candy Company.
I left Ferrara Candy. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Ferrara Candy Company, (773) 692-8322) or the recordkeeper, Empower Annuity Insurance Company. The Ferrara Candy old 401(k) page lists the contacts from every plan filing. Find an old Ferrara Candy 401(k)
Data from the public Form 5500 annual reports Ferrara Candy filed with the U.S. Department of Labor (plan years 2021 and 2022 and 2023 and 2024) and, where noted, the attached independent auditor's report. Plan terms may have changed since the filing; check your current Summary Plan Description. PlanFacts is not affiliated with Ferrara Candy. Not financial advice. Report a correction · Methodology