Team, Inc. 401(k) Review & Grade
Team, Inc. Salary Deferral Plan and Trust
Sugar Land, TXManagement of Companies3,628 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,659Employer $ per active participant
$6,398Employee $ saved per active participant
0.03%Direct admin cost, % of plan assets
$357.2MNet plan assets, end of year
$63,827Average balance per account
Score breakdown
- Employer generosity8.5 / 5017th percentile for employer $ per participant
- Low cost22.6 / 2590th percentile for low admin cost vs. same-size plans
- Employee saving7.9 / 1553th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-23 pts3 issues reported on the filing
Total score26 / 100 · Grade F
This plan vs. peers
Peers: Management of Companies plans with 2,500–9,999 active participants (60 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 17th |
| Lower admin cost | 90th |
| Employee saving | 53th |
| Peers that auto-enroll | 58% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($7,438,063 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Benefits not paid when due: the plan reported failing to pay some benefits on time.
Corrective distributions: the plan refunded $2,765 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Team put in about $1,659 per active participant, below the typical peer ($3,455). 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.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- 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 | $6,017,838 |
| Participant (employee) contributions | $23,209,405 |
| Other contributions (incl. rollovers in) | $1,758,273 |
| Administrative expenses paid from the plan | $100,101 |
| Contract administrator fees | $2,700 |
| Other admin expenses | $332,637 |
| Benefits paid out | $45,440,475 |
| Net assets, start / end of year | $324.1M / $357.2M |
| Active participants, start / end of year | 4,036 / 3,219 |
| Participants with account balances | 5,597 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Melton & Melton, L.L.P. |
| Employer stock held by plan | $6,194,687 |
Largest service providers (Schedule C)
| Morganstanleysmithbarneyllc | $332,632 reported compensation |
| Melton & Melton | $45,000 reported compensation |
| Barton Law Office's | $6,911 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250728151749NAL0000882563001, received 2025-07-28, EIN 74-1765729, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.