Corpay, Inc. 401(k) Review & Grade
Corpay, Inc. 401(k) Savings Plan
Covington, LAOther Services4,350 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$684Employer $ per active participant
$5,210Employee $ saved per active participant
0.21%Direct admin cost, % of plan assets
$275.0MNet plan assets, end of year
$57,875Average balance per account
Score breakdown
- Employer generosity19.5 / 5039th percentile for employer $ per participant
- Low cost8.2 / 2533th percentile for low admin cost vs. same-size plans
- Employee saving11.0 / 1573th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score49 / 100 · Grade C
This plan vs. peers
Peers: Other Services plans with 2,500–9,999 active participants (42 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 39th |
| Lower admin cost | 33th |
| Employee saving | 73th |
| Peers that auto-enroll | 45% |
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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
- Corpay put in about $684 per active participant, below the typical peer ($1,132). 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 (0.21% of assets) are well above similar-size plans (0.12%). 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.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- 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 | $2,974,182 |
| Participant (employee) contributions | $22,663,028 |
| Other contributions (incl. rollovers in) | $9,601,024 |
| Administrative expenses paid from the plan | $530,625 |
| Contract administrator fees | $400,571 |
| Investment advisory & management fees | $130,054 |
| Benefits paid out | $21,694,494 |
| Net assets, start / end of year | $228.1M / $275.0M |
| Active participants, start / end of year | 4,431 / 4,269 |
| Participants with account balances | 4,752 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Frazier & Deeter, LLC |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $400,152 reported compensation |
| Focus 401(k) Group, LLC | $130,348 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014181245NAL0003543793001, received 2025-10-14, EIN 72-1074903, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.