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Grade My 401(k)
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1 issue

United Natural Foods, Inc

05-0376157· Providence, RI· 2024 filing· vs 15 plans your size
B
0/100
Overall grade

Solid plan with a few things to improve.

–
Fees
not graded
C
Financial Wellness
B
Plan design
B
Compliance
Fees
Estimate only · not graded

Fees aren't disclosed. A typical estimate for a plan with this asset level is 14 bps, but this estimate is not graded.

Not graded
Financial Wellness

Below-average savings. Employees put away $3,741/employee a year. That's less than 56% of similar plans.

C
lower44th percentilehigher
Plan design

Covers the basics. A few high-impact features are missing.

B
Employer match
The plan matches employee contributions, the single strongest driver of participation and savings.
Profit sharing
The employer also makes profit-sharing contributions on top of the match.
Automatic enrollment
New hires are enrolled by default. Plans with auto-enroll see much higher participation.
Not safe harbor
The plan has to pass annual IRS nondiscrimination testing, which can cap what owners and higher earners are allowed to contribute.
Default investment (QDIA)
Employees who never pick investments land in a sensible default, usually a target-date fund, instead of cash.
Brokerage window
Employees can invest beyond the core fund menu through a self-directed brokerage account.
Compliance & health

1 item to review, nothing critical.

B
Fidelity bond below 10% of BOY assets, ERISA 412 violation
The reported ERISA fidelity bond is below the 10%-of-assets guideline based on beginning-of-year assets. Fast-growing plans can look under-bonded on paper; confirm against the plan's current bond coverage.
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Key insights

  • Strongest area: plan design. Covers the basics. A few high-impact features are missing.
  • Best place to improve: financial wellness. Below-average savings. Employees put away $3,741/employee a year. That's less than 56% of similar plans.
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