Carter Express, Inc. 401(k) Review & Grade
Carter 401(k) Plan
Anderson, INTransportation & Warehousing1,945 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$688Employer $ per active participant
$1,590Employee $ saved per active participant
0.12%Direct admin cost, % of plan assets
$27.6MNet plan assets, end of year
$23,711Average balance per account
Score breakdown
- Employer generosity18.2 / 5036th percentile for employer $ per participant
- Low cost17.5 / 2570th percentile for low admin cost vs. same-size plans
- Employee saving3.6 / 1524th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score39 / 100 · Grade D
This plan vs. peers
Peers: Transportation & Warehousing plans with 500–2,499 active participants (392 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 36th |
| Lower admin cost | 70th |
| Employee saving | 24th |
| Peers that auto-enroll | 37% |
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Red flags from the filing
Corrective distributions: the plan refunded $38,641 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Carter Express put in about $688 per active participant, below the typical peer ($1,070). 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.
- 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.
- 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 | $1,338,522 |
| Participant (employee) contributions | $3,091,683 |
| Other contributions (incl. rollovers in) | $52,815 |
| Administrative expenses paid from the plan | $30,261 |
| Other admin expenses | $30,261 |
| Benefits paid out | $2,831,780 |
| Net assets, start / end of year | $23.5M / $27.6M |
| Active participants, start / end of year | 1,838 / 2,052 |
| Participants with account balances | 1,166 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Katz, Sapper, & Miller, LLP |
Largest service providers (Schedule C)
| Merrill Lynch, Pierce, Fenner and S | $30,261 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251006124040NAL0003420657001, received 2025-10-06, EIN 35-0962735, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.