Sharp Transit, LLC 401(k) Review & Grade
Sharp Transit, LLC Employees 401(k) Retirement Plan
Salisbury, NCTransportation & Warehousing643 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$667Employer $ per active participant
$1,302Employee $ saved per active participant
0.62%Direct admin cost, % of plan assets
$7.3MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity17.5 / 5035th percentile for employer $ per participant
- Low cost4.1 / 2517th percentile for low admin cost vs. same-size plans
- Employee saving2.7 / 1518th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score27 / 100 · Grade F
This plan vs. peers
Peers: Transportation & Warehousing plans with 500–2,499 active participants (392 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 35th |
| Lower admin cost | 17th |
| Employee saving | 18th |
| Peers that auto-enroll | 37% |
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
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Sharp Transit put in about $667 per active participant, below the typical peer ($1,070). 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 (0.23%). 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 | $428,724 |
| Participant (employee) contributions | $837,185 |
| Other contributions (incl. rollovers in) | – |
| Administrative expenses paid from the plan | $41,176 |
| Other admin expenses | $41,176 |
| Benefits paid out | $671,852 |
| Net assets, start / end of year | $6.0M / $7.3M |
| Active participants, start / end of year | 687 / 599 |
| Participants with account balances | 181 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Long CPA, PLLC |
Largest service providers (Schedule C)
| T. Rowe Price RPS, Inc. | $41,171 reported compensation |
| Fidelity | $0 reported compensation |
| American Funds | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015134351NAL0006279792001, received 2025-10-15, EIN 56-2206676, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.