Qualus Corp 401(k) Review & Grade
Qualus 401(k) Plan
Lake Mary, FLProfessional, Scientific & Technical Services1,220 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$3,363Employer $ per active participant
$7,737Employee $ saved per active participant
0.49%Direct admin cost, % of plan assets
$96.1MNet plan assets, end of year
$79,318Average balance per account
Score breakdown
- Employer generosity27.8 / 5056th percentile for employer $ per participant
- Low cost5.9 / 2524th percentile for low admin cost vs. same-size plans
- Employee saving6.0 / 1540th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score30 / 100 · Grade D
This plan vs. peers
Peers: Professional, Scientific & Technical Services plans with 500–2,499 active participants (1,469 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 56th |
| Lower admin cost | 24th |
| Employee saving | 40th |
| Peers that auto-enroll | 48% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($148 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $4,443 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Qualus put in about $3,363 per active participant, more than the typical peer ($3,082). 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.
- Direct plan expenses (0.49% 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 | $4,101,657 |
| Participant (employee) contributions | $9,435,350 |
| Other contributions (incl. rollovers in) | $4,063,201 |
| Administrative expenses paid from the plan | $416,373 |
| Investment advisory & management fees | $168,685 |
| Benefits paid out | $11,745,984 |
| Net assets, start / end of year | $73.5M / $96.1M |
| Active participants, start / end of year | 978 / 1,461 |
| Participants with account balances | 1,212 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Clifton Larson Allen, LLP |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company O | $228,945 reported compensation |
| Empower Advisory Group, LLC | $87,710 reported compensation |
| Ifp Advisors Inc DBA Independent Fi | $80,975 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014093457NAL0002515249001, received 2025-10-14, EIN 47-3819128, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.