Mode Transportation, LLC 401(k) Review & Grade
Mode Transportation 401(k) Plan
Dallas, TXTransportation & Warehousing546 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,379Employer $ per active participant
$6,596Employee $ saved per active participant
0.17%Direct admin cost, % of plan assets
$35.3MNet plan assets, end of year
$52,910Average balance per account
Score breakdown
- Employer generosity38.4 / 5077th percentile for employer $ per participant
- Low cost14.7 / 2559th percentile for low admin cost vs. same-size plans
- Employee saving12.7 / 1585th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score73 / 100 · Grade B
This plan vs. peers
Peers: Transportation & Warehousing plans with 500–2,499 active participants (392 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 77th |
| Lower admin cost | 59th |
| Employee saving | 85th |
| Peers that auto-enroll | 37% |
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Red flags from the filing
Corrective distributions: the plan refunded $16,106 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Mode Transportation put in about $2,379 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.
- 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.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- 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 | $1,299,936 |
| Participant (employee) contributions | $3,604,917 |
| Other contributions (incl. rollovers in) | $687,630 |
| Administrative expenses paid from the plan | $56,857 |
| Benefits paid out | $4,519,885 |
| Net assets, start / end of year | $30.0M / $35.3M |
| Active participants, start / end of year | 459 / 634 |
| Participants with account balances | 668 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Baker Tilly US, LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $56,857 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250827113108NAL0009509441001, received 2025-08-27, EIN 35-1712356, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.