Icafs, Inc. D/B/A General Services Corporation 401(k) Review & Grade
General Services Corporation 401(k) Plan
Richmond, VAReal Estate & Rental518 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,158Employer $ per active participant
$1,883Employee $ saved per active participant
0.50%Direct admin cost, % of plan assets
$17.1MNet plan assets, end of year
$47,459Average balance per account
Score breakdown
- Employer generosity23.3 / 5047th percentile for employer $ per participant
- Low cost5.8 / 2523th percentile for low admin cost vs. same-size plans
- Employee saving3.6 / 1524th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score26 / 100 · Grade F
This plan vs. peers
Peers: Real Estate & Rental plans with 500–2,499 active participants (291 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 47th |
| Lower admin cost | 23th |
| Employee saving | 24th |
| Peers that auto-enroll | 47% |
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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 ($691 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
- Icafs, Inc. D/B/A General Services put in about $1,158 per active participant, below the typical peer ($1,279). 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 (0.50% 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 | $600,095 |
| Participant (employee) contributions | $975,643 |
| Other contributions (incl. rollovers in) | $65,422 |
| Administrative expenses paid from the plan | $81,164 |
| Other admin expenses | $81,164 |
| Benefits paid out | $1,600,510 |
| Net assets, start / end of year | $15.4M / $17.1M |
| Active participants, start / end of year | 518 / 518 |
| Participants with account balances | 361 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Kruggel, Lawton & Company, LLC |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company O | $76,681 reported compensation |
| Regions Bank DBA Regions Trust | $23,839 reported compensation |
| Pentegra Services Inc | $22,215 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251212150436NAL0007611379001, received 2025-12-12, EIN 54-0888746, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.