QC Financial Services, Inc. 401(k) Review & Grade
QC Financial Services 401(k) Retirement Plan
Lenexa, KSFinance & Insurance716 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$275Employer $ per active participant
$1,392Employee $ saved per active participant
0.58%Direct admin cost, % of plan assets
$17.9MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity1.7 / 503th percentile for employer $ per participant
- Low cost4.6 / 2519th percentile for low admin cost vs. same-size plans
- Employee saving0.3 / 152th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score7 / 100 · Grade F
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 3th |
| Lower admin cost | 19th |
| Employee saving | 2th |
| Peers that auto-enroll | 62% |
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Red flags from the filing
Corrective distributions: the plan refunded $85,888 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- QC Financial Services put in about $275 per active participant, below the typical peer ($3,606). 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 (0.58% 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.
- 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 | $196,601 |
| Participant (employee) contributions | $996,488 |
| Other contributions (incl. rollovers in) | $74,698 |
| Administrative expenses paid from the plan | $98,719 |
| Contract administrator fees | $60,855 |
| Investment advisory & management fees | $37,864 |
| Benefits paid out | $1,304,164 |
| Net assets, start / end of year | $16.1M / $17.9M |
| Active participants, start / end of year | 734 / 698 |
| Participants with account balances | 350 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Pickett, Chaney & Mcmullen LLP |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $47,247 reported compensation |
| Resources Investment Advisors, LLC | $37,871 reported compensation |
| Erp National LLC | $18,337 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250922155858NAL0005839328001, received 2025-09-22, EIN 43-1326315, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.