West Quality Food Service, Inc. 401(k) Review & Grade
West Quality Food Service, Inc. 401(k) Retirement Savings Plan
Laurel, MSAccommodation & Food Services1,200 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$41Employer $ per active participant
$187Employee $ saved per active participant
0.70%Direct admin cost, % of plan assets
$2.9MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity6.6 / 5013th percentile for employer $ per participant
- Low cost3.3 / 2513th percentile for low admin cost vs. same-size plans
- Employee saving1.6 / 1511th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score1 / 100 · Grade F
This plan vs. peers
Peers: Accommodation & Food Services plans with 500–2,499 active participants (458 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 13th |
| Lower admin cost | 13th |
| Employee saving | 11th |
| Peers that auto-enroll | 17% |
Get the monthly 401(k) report card
The best and worst plans, new grades as filings post. One email a month, no spam.
Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($4,458 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $4,868 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- West Quality Food Service put in about $41 per active participant, below the typical peer ($266). 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 (0.70% 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 | $48,806 |
| Participant (employee) contributions | $224,715 |
| Other contributions (incl. rollovers in) | $0 |
| Administrative expenses paid from the plan | $20,074 |
| Investment advisory & management fees | $11,409 |
| Benefits paid out | $456,998 |
| Net assets, start / end of year | $2.9M / $2.9M |
| Active participants, start / end of year | 478 / 1,923 |
| Participants with account balances | 120 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Mcdaniel & Associates, P.C. |
Largest service providers (Schedule C)
| Regions Bank | $11,409 reported compensation |
| Fidelity Investments Institutional | $8,665 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251205181450NAL0002009779001, received 2025-12-05, EIN 64-0511249, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.