Qsi, Inc. 401(k) Review & Grade
Qsi, Inc. 401(k) Profit Sharing Plan
Bardstown, KYFinance & Insurance879 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,495Employer $ per active participant
$3,221Employee $ saved per active participant
0.94%Direct admin cost, % of plan assets
$28.0MNet plan assets, end of year
$42,109Average balance per account
Score breakdown
- Employer generosity15.1 / 5030th percentile for employer $ per participant
- Low cost1.8 / 257th percentile for low admin cost vs. same-size plans
- Employee saving1.1 / 157th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score21 / 100 · Grade F
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 30th |
| Lower admin cost | 7th |
| Employee saving | 7th |
| Peers that auto-enroll | 62% |
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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
- Qsi put in about $2,495 per active participant, below the typical peer ($3,606). 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 (0.94% 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 | $2,192,954 |
| Participant (employee) contributions | $2,831,110 |
| Other contributions (incl. rollovers in) | $1,313,480 |
| Administrative expenses paid from the plan | $234,013 |
| Benefits paid out | $2,662,209 |
| Net assets, start / end of year | $21.7M / $28.0M |
| Active participants, start / end of year | 845 / 913 |
| Participants with account balances | 664 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Besten & Dieruf, PLLC |
Largest service providers (Schedule C)
| Empower Advisory Group, LLC | $53,497 reported compensation |
| Empower Annuity Insurance Company | $45,991 reported compensation |
| Cerity Partners Retirement Plan Adv | $39,875 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250623062950NAL0006043793001, received 2025-06-23, EIN 31-1555808, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.