Ibase Operations Corp. 401(k) Review & Grade
Qualitest Group 401(k) Plan
Santa Clara, CAProfessional, Scientific & Technical Services850 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,320Employer $ per active participant
$5,978Employee $ saved per active participant
0.70%Direct admin cost, % of plan assets
$32.9MNet plan assets, end of year
$42,413Average balance per account
Score breakdown
- Employer generosity12.0 / 5024th percentile for employer $ per participant
- Low cost3.2 / 2513th percentile for low admin cost vs. same-size plans
- Employee saving4.4 / 1530th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score10 / 100 · Grade F
This plan vs. peers
Peers: Professional, Scientific & Technical Services plans with 500–2,499 active participants (1,469 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 24th |
| Lower admin cost | 13th |
| Employee saving | 30th |
| Peers that auto-enroll | 48% |
Get the monthly 401(k) report card
The best and worst plans, new grades as filings post. One email a month, no spam.
Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($6,852 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $4,629 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Ibase Operations put in about $1,320 per active participant, below the typical peer ($3,082). 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 (0.70% of assets) are well above similar-size plans (0.23%). 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 reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- 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 | $1,122,536 |
| Participant (employee) contributions | $5,084,055 |
| Other contributions (incl. rollovers in) | $386,059 |
| Administrative expenses paid from the plan | $181,557 |
| Investment advisory & management fees | $133,716 |
| Benefits paid out | $5,172,994 |
| Net assets, start / end of year | $18.9M / $32.9M |
| Active participants, start / end of year | 842 / 859 |
| Participants with account balances | 775 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Belcher,della,torre,gitto & Co Cpas |
Largest service providers (Schedule C)
| Mercer Investments LLC | $117,663 reported compensation |
| Empower Annuity Insurance Company O | $47,841 reported compensation |
| Empower Advisory Group, LLC | $16,053 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015082211NAL0008307026001, received 2025-10-15, EIN 81-3000418, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.