Glovis America, Inc. 401(k) Review & Grade
Glovis America, Inc. 401(k) Plan
Irvine, CATransportation & Warehousing1,368 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,629Employer $ per active participant
$3,088Employee $ saved per active participant
0.59%Direct admin cost, % of plan assets
$38.8MNet plan assets, end of year
$35,231Average balance per account
Score breakdown
- Employer generosity32.6 / 5065th percentile for employer $ per participant
- Low cost4.5 / 2518th percentile for low admin cost vs. same-size plans
- Employee saving7.6 / 1551th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score38 / 100 · Grade D
This plan vs. peers
Peers: Transportation & Warehousing plans with 500–2,499 active participants (392 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 65th |
| Lower admin cost | 18th |
| Employee saving | 51th |
| Peers that auto-enroll | 37% |
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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 ($1,248,693 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
- Glovis America put in about $1,629 per active participant, more than the typical peer ($1,070). 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 (0.59% 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.
- 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 | $2,228,690 |
| Participant (employee) contributions | $4,226,160 |
| Other contributions (incl. rollovers in) | $1,579,975 |
| Administrative expenses paid from the plan | $201,678 |
| Contract administrator fees | $120,731 |
| Investment advisory & management fees | $59,947 |
| Benefits paid out | $3,121,253 |
| Net assets, start / end of year | $29.7M / $38.8M |
| Active participants, start / end of year | 1,287 / 1,450 |
| Participants with account balances | 1,102 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Wright Ford Young & Co |
Largest service providers (Schedule C)
| John Hancock | $123,353 reported compensation |
| LPL Financial Corporation | $57,325 reported compensation |
| Wright Ford Young & Co | $21,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013173303NAL0000872403001, received 2025-10-13, EIN 06-1658107, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.