Carnival Corporation 401(k) Review & Grade
The Carnival Corporation Fun Ship Savings Plan
Doral, FLTransportation & Warehousing3,646 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$4,437Employer $ per active participant
$6,936Employee $ saved per active participant
0.08%Direct admin cost, % of plan assets
$500.6MNet plan assets, end of year
$111,587Average balance per account
Score breakdown
- Employer generosity38.9 / 5078th percentile for employer $ per participant
- Low cost16.5 / 2566th percentile for low admin cost vs. same-size plans
- Employee saving11.4 / 1576th percentile for employee $ per participant
- Plan features0 / 10No auto-enrollment or default investment reported
Total score67 / 100 · Grade B
This plan vs. peers
Peers: Transportation & Warehousing plans with 2,500–9,999 active participants (123 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 78th |
| Lower admin cost | 66th |
| Employee saving | 76th |
| Peers that auto-enroll | 46% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Carnival put in about $4,437 per active participant, more than the typical peer ($1,834). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- 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.
- Fund expense ratios aren't in the filing. Look them up in your 404(a)(5) fee disclosure and favor low-cost index or target-date funds.
- 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 | $16,176,594 |
| Participant (employee) contributions | $25,286,197 |
| Other contributions (incl. rollovers in) | $2,186,522 |
| Administrative expenses paid from the plan | $349,981 |
| Benefits paid out | $21,633,768 |
| Net assets, start / end of year | $421.3M / $500.6M |
| Active participants, start / end of year | 3,566 / 3,725 |
| Participants with account balances | 4,486 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Berkowitz Pollack Brant |
Largest service providers (Schedule C)
| Bank of America Merrill Lynch | $349,981 reported compensation |
| Winston & Strawn LLP | $0 reported compensation |
| Berkowitz Pollack Brant | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014131814NAL0003006945001, received 2025-10-14, EIN 59-1562976, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.