Western Carriers, Inc. 401(k) Review & Grade
Western Carriers, Inc. Profit Sharing Plan
North Bergen, NJTransportation & Warehousing798 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,233Employer $ per active participant
$3,281Employee $ saved per active participant
0.44%Direct admin cost, % of plan assets
$41.7MNet plan assets, end of year
$85,741Average balance per account
Score breakdown
- Employer generosity27.6 / 5055th percentile for employer $ per participant
- Low cost6.8 / 2527th percentile for low admin cost vs. same-size plans
- Employee saving8.1 / 1554th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score43 / 100 · Grade D
This plan vs. peers
Peers: Transportation & Warehousing plans with 500–2,499 active participants (392 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 55th |
| Lower admin cost | 27th |
| Employee saving | 54th |
| Peers that auto-enroll | 37% |
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Red flags from the filing
Corrective distributions: the plan refunded $63,987 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Western Carriers put in about $1,233 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 (0.44% 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 | $983,115 |
| Participant (employee) contributions | $2,616,801 |
| Other contributions (incl. rollovers in) | $34,729 |
| Administrative expenses paid from the plan | $169,299 |
| Investment advisory & management fees | $111,646 |
| Benefits paid out | $2,539,768 |
| Net assets, start / end of year | $35.4M / $41.7M |
| Active participants, start / end of year | 780 / 815 |
| Participants with account balances | 486 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | PKF O Connor, Davies, LLP |
Largest service providers (Schedule C)
| Sensus Investment Management G | $111,646 reported compensation |
| Schwab Retirement Plan Services,inc | $57,653 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250926093453NAL0009960736002, received 2025-09-26, EIN 04-2481205, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.