Virginia Transportation Corporation 401(k) Review & Grade
Fuel Your 401(k) Retirement Plan
West Warwick, RITransportation & Warehousing584 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,143Employer $ per active participant
$3,455Employee $ saved per active participant
0.68%Direct admin cost, % of plan assets
$15.6MNet plan assets, end of year
$42,834Average balance per account
Score breakdown
- Employer generosity26.6 / 5053th percentile for employer $ per participant
- Low cost3.4 / 2514th percentile for low admin cost vs. same-size plans
- Employee saving8.5 / 1557th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score42 / 100 · Grade D
This plan vs. peers
Peers: Transportation & Warehousing plans with 500–2,499 active participants (392 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 53th |
| Lower admin cost | 14th |
| Employee saving | 57th |
| Peers that auto-enroll | 37% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Virginia Transportation put in about $1,143 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 (0.68% 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.
- 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 | $667,711 |
| Participant (employee) contributions | $2,017,767 |
| Other contributions (incl. rollovers in) | $506,198 |
| Administrative expenses paid from the plan | $95,661 |
| Investment advisory & management fees | $32,190 |
| Other admin expenses | $4,478 |
| Benefits paid out | $2,235,543 |
| Net assets, start / end of year | $12.6M / $15.6M |
| Active participants, start / end of year | 593 / 575 |
| Participants with account balances | 364 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Cohnreznick LLP |
Largest service providers (Schedule C)
| John Hancock Life Insurance Co. | $58,742 reported compensation |
| NFP Retirement, Inc. | $32,190 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20260107173914NAL0008338081001, received 2026-01-07, EIN 05-0481917, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.