Whelan Security Management Company Inc. 401(k) Review & Grade
Gardaworld Security Services U.S. 401(k) Plan
Saint Louis, MOAdministrative, Support & Staffing Services48,204 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$15Employer $ per active participant
$120Employee $ saved per active participant
1.07%Direct admin cost, % of plan assets
$25.6MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity7.8 / 5016th percentile for employer $ per participant
- Low cost0.2 / 251th percentile for low admin cost vs. same-size plans
- Employee saving0.9 / 156th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score2 / 100 · Grade F
This plan vs. peers
Peers: Administrative, Support & Staffing Services plans with 10,000+ active participants (33 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 16th |
| Lower admin cost | 1th |
| Employee saving | 6th |
| Peers that auto-enroll | 36% |
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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 ($442,883 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- Whelan Security Management Company put in about $15 per active participant, below the typical peer ($271). 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 (1.07% of assets) are well above similar-size plans (0.09%). 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 | $712,847 |
| Participant (employee) contributions | $5,762,794 |
| Other contributions (incl. rollovers in) | $1,256,627 |
| Administrative expenses paid from the plan | $243,072 |
| Contract administrator fees | $300 |
| Investment advisory & management fees | $43,859 |
| Benefits paid out | $4,156,124 |
| Net assets, start / end of year | $19.7M / $25.6M |
| Active participants, start / end of year | 39,478 / 56,931 |
| Participants with account balances | 2,885 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Rubin Brown LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $199,213 reported compensation |
| Global Retirement Partners LLC | $27,114 reported compensation |
| Captrust Financial Advisors | $16,745 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251009123149NAL0006581905001, received 2025-10-09, EIN 45-3709475, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.