Quality Carriers, Inc. 401(k) Review & Grade
Quality Carriers, Inc. 401(k) Plan
Tampa, FLTransportation & Warehousing3,710 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$682Employer $ per active participant
$1,716Employee $ saved per active participant
0.62%Direct admin cost, % of plan assets
$52.2MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity9.4 / 5019th percentile for employer $ per participant
- Low cost2.3 / 259th percentile for low admin cost vs. same-size plans
- Employee saving2.3 / 1516th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score24 / 100 · Grade F
This plan vs. peers
Peers: Transportation & Warehousing plans with 2,500–9,999 active participants (123 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 19th |
| Lower admin cost | 9th |
| Employee saving | 16th |
| 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
- Quality Carriers put in about $682 per active participant, below the typical peer ($1,834). 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 (0.62% 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 | $2,530,832 |
| Participant (employee) contributions | $6,364,648 |
| Other contributions (incl. rollovers in) | $530,744 |
| Administrative expenses paid from the plan | $297,685 |
| Contract administrator fees | $297,685 |
| Benefits paid out | $6,248,547 |
| Net assets, start / end of year | $43.1M / $52.2M |
| Active participants, start / end of year | 3,696 / 3,724 |
| Participants with account balances | 1,755 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Assurance Dimensions |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $297,533 reported compensation |
| Creative Planning, Inc. | $22,753 reported compensation |
| Kestra Investment Services LLC | $10,819 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014120156NAL0001317971001, received 2025-10-14, EIN 36-2590063, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.