Pilot Catastrophe Services Inc 401(k) Review & Grade
Pilot Catastrophe Services, Inc. 401(k) Profit Sharing Plan
Mobile, ALProfessional, Scientific & Technical Services37,052 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$27Employer $ per active participant
$255Employee $ saved per active participant
0.20%Direct admin cost, % of plan assets
$155.2MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity2.2 / 504th percentile for employer $ per participant
- Low cost4.4 / 2517th percentile for low admin cost vs. same-size plans
- Employee saving0.4 / 153th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score7 / 100 · Grade F
This plan vs. peers
Peers: Professional, Scientific & Technical Services plans with 10,000+ active participants (70 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 4th |
| Lower admin cost | 17th |
| Employee saving | 3th |
| Peers that auto-enroll | 39% |
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Red flags from the filing
Corrective distributions: the plan refunded $562,395 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Pilot Catastrophe Services put in about $27 per active participant, below the typical peer ($2,932). 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 (0.20% of assets) are well above similar-size plans (0.09%). 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 | $1,013,858 |
| Participant (employee) contributions | $9,449,840 |
| Other contributions (incl. rollovers in) | $406,938 |
| Administrative expenses paid from the plan | $308,964 |
| Contract administrator fees | $308,964 |
| Benefits paid out | $21,586,815 |
| Net assets, start / end of year | $148.9M / $155.2M |
| Active participants, start / end of year | 35,464 / 38,639 |
| Participants with account balances | 2,498 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Graham Yaden, PC |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $308,964 reported compensation |
| Morgan Stanley Smith Barney LLC | $95,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250922095129NAL0004543873001, received 2025-09-22, EIN 63-1012513, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.