Valet Living,llc 401(k) Review & Grade
Valet Living, LLC 401(k) Profit Sharing Plan
Tampa, FLAdministrative, Support & Staffing Services6,126 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$376Employer $ per active participant
$659Employee $ saved per active participant
0.46%Direct admin cost, % of plan assets
$32.5MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity26.2 / 5052th percentile for employer $ per participant
- Low cost3.6 / 2514th percentile for low admin cost vs. same-size plans
- Employee saving5.2 / 1535th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score32 / 100 · Grade D
This plan vs. peers
Peers: Administrative, Support & Staffing Services plans with 2,500–9,999 active participants (125 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 52th |
| Lower admin cost | 14th |
| Employee saving | 35th |
| Peers that auto-enroll | 22% |
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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 ($1,926 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $264,434 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Valet Living,llc put in about $376 per active participant, more than the typical peer ($342). 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 (0.46% 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.
- 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 | $2,303,619 |
| Participant (employee) contributions | $4,038,931 |
| Other contributions (incl. rollovers in) | $341,971 |
| Administrative expenses paid from the plan | $135,499 |
| Contract administrator fees | $30,779 |
| Investment advisory & management fees | $1,818 |
| Benefits paid out | $3,850,655 |
| Net assets, start / end of year | $26.3M / $32.5M |
| Active participants, start / end of year | 6,132 / 6,121 |
| Participants with account balances | 1,378 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Kelly Partners (FRS) Attest Service |
Largest service providers (Schedule C)
| Empower Annuity Ins Co of America | $124,566 reported compensation |
| Florida Retirement Consultants | $30,779 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250930085110NAL0011456769001, received 2025-09-30, EIN 20-4186236, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.