Amscot Financial, Inc. 401(k) Review & Grade
Amscot Financial, Inc. 401k Plan
Tampa, FLFinance & Insurance1,046 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$562Employer $ per active participant
$1,953Employee $ saved per active participant
0.14%Direct admin cost, % of plan assets
$22.7MNet plan assets, end of year
$32,434Average balance per account
Score breakdown
- Employer generosity3.1 / 506th percentile for employer $ per participant
- Low cost16.4 / 2566th percentile for low admin cost vs. same-size plans
- Employee saving0.6 / 154th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score20 / 100 · Grade F
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 6th |
| Lower admin cost | 66th |
| Employee saving | 4th |
| Peers that auto-enroll | 62% |
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Red flags from the filing
Corrective distributions: the plan refunded $41,802 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Amscot Financial put in about $562 per active participant, below the typical peer ($3,606). 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.
- Fund expense ratios aren't in the filing. Look them up in your 404(a)(5) fee disclosure and favor low-cost index or target-date funds.
- 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 | $587,798 |
| Participant (employee) contributions | $2,043,871 |
| Other contributions (incl. rollovers in) | $21,012 |
| Administrative expenses paid from the plan | $29,380 |
| Benefits paid out | $2,126,210 |
| Net assets, start / end of year | $19.9M / $22.7M |
| Active participants, start / end of year | 1,071 / 1,022 |
| Participants with account balances | 700 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Hacker Johnson & Smith |
Largest service providers (Schedule C)
| Adp, Inc. | $29,380 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015144205NAL0002472611001, received 2025-10-15, EIN 59-2742276, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.