World Acceptance Corporation 401(k) Review & Grade
World Acceptance Corporation Retirement Savings Plan
Greenville, SCFinance & Insurance2,844 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$541Employer $ per active participant
$1,515Employee $ saved per active participant
0.23%Direct admin cost, % of plan assets
$72.8MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity1.8 / 504th percentile for employer $ per participant
- Low cost7.5 / 2530th percentile for low admin cost vs. same-size plans
- Employee saving0.1 / 151th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score9 / 100 · Grade F
This plan vs. peers
Peers: Finance & Insurance plans with 2,500–9,999 active participants (199 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 4th |
| Lower admin cost | 30th |
| Employee saving | 1th |
| Peers that auto-enroll | 66% |
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Red flags from the filing
Corrective distributions: the plan refunded $156,433 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- World Acceptance put in about $541 per active participant, below the typical peer ($4,489). 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 (0.23% 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.
- 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 | $1,537,438 |
| Participant (employee) contributions | $4,309,035 |
| Other contributions (incl. rollovers in) | $153,326 |
| Administrative expenses paid from the plan | $163,144 |
| Contract administrator fees | $300 |
| Investment advisory & management fees | $47,929 |
| Benefits paid out | $10,964,727 |
| Net assets, start / end of year | $70.2M / $72.8M |
| Active participants, start / end of year | 2,508 / 3,179 |
| Participants with account balances | 1,365 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Forvis Mazars, LLP |
| Employer stock held by plan | $2,225,452 |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $115,208 reported compensation |
| Mercer | $47,929 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250623141723NAL0006467169001, received 2025-06-23, EIN 57-0425114, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.