Ready Pac Produce 401(k) match, vesting and fees
What Ready Pac Produce's 401(k) plan says about matching contributions
The Company may make matching and/or profit sharing contributions at its sole discretion. Profit sharing contributions, if any, are allocated to eligible participants’ accounts based on compensation. There were no matching contributions for the 2024 Plan year.
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. 29 ↗ |
| Loans | Loans are available to all participants on a reasonably equivalent basis. The minimum loan amount is $1,000. The maximum a participant may borrow is the lesser of $50,000, reduced by the highest outstanding loan balance in the previous 12-month period, or 50% of his or her vested account balance. The loan period is a maximum of 5 years (10 years for principal residence purchase) at the local prevailing commercial interest rate as determined by the plan administrator. Participants may only have one loan outstanding at any time. Loans must be repaid through payroll deductions. | Audit report, p. 30 ↗ |
| Recordkeeper | Fidelity Investments Institutional | Schedule C ↗ |
| Independent auditor | Miller Kaplan Arase LLP (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 348 defined-contribution plans in wholesale trade with 1,000 to 4,999 participants.
| Ready Pac Produce: employer contribution per participant | $435 | |
| Peer median | $2,066 |
| Ready Pac Produce: average balance | $26,273 | |
| Peer median | $77,876 |
| Ready Pac Produce: admin expenses ÷ assets | 0.52% | |
| Peer median | 0.14% |
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 $63.7M at the end of plan year 2021 to $66.4M at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 3,129 | $66.4M | $1.1M | $435 | 0.52% | Quoted in the audit report, p. 29 ↗ | Form 5500 ↗ |
| 2023 | 2,953 | $60.1M | $1.2M | $476 | 0.54% | Not published | Form 5500 ↗ |
| 2022 | 3,147 | $54.7M | $1.3M | $474 | 0.57% | Not published | Form 5500 ↗ |
| 2021 | 3,290 | $63.7M | $1.3M | $473 | 0.75% | Not published | Form 5500 ↗ |
Common questions
Does Ready Pac Produce match 401(k) contributions?
The audit report attached to the Ready Pac Foods, Inc. 401(k) Retirement Savings Plan's plan year 2024 Form 5500, page 29 says: “The Company may make matching and/or profit sharing contributions at its sole discretion. Profit sharing contributions, if any, are allocated to eligible participants’ accounts based on compensation. There were no matching contributions for the 2024 Plan year.” Plan terms may have changed; check your current Summary Plan Description.
When is the Ready Pac Produce 401(k) match vested?
The vesting schedule for the Ready Pac Foods, Inc. 401(k) Retirement Savings Plan is not in the data published so far. Your Summary Plan Description states it.
Who manages the Ready Pac Produce 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is Fidelity Investments Institutional. The plan administrator is Ready Pac Produce, Inc..
I left Ready Pac Produce. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Ready Pac Produce, Inc., (626) 856-8686) or the recordkeeper, Fidelity Investments Institutional. The Ready Pac Produce old 401(k) page lists the contacts from every plan filing. Find an old Ready Pac Produce 401(k)
Data from the public Form 5500 annual reports Ready Pac Produce 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 Ready Pac Produce. Not financial advice. Report a correction · Methodology