New York › Administrative and support and waste management services › 250 to 499 participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
QFS 401(k) Profit Sharing Plan
Sponsored by Quality Facility Solutions Corp., Brooklyn, NY
Form 5500 information is as filed by the plan administrator with the Department of Labor and may be amended. Figures reflect the plan year shown, not current balances. Form 5500 contains no individual account balances. Look up the original filing at EFAST2.
In the plan year ending 31 Dec 2024, QFS 401(k) Profit Sharing Plan covered 438 participants and held $6.3M in net assets. The plan is a profit-sharing plan sponsored by Quality Facility Solutions Corp. of Brooklyn, New York.
Net assets came to $14,476 per participant, well below the $48,746 median for defined contribution plans with 250 to 499 participants and well below the $24,581 median for defined contribution plans in administrative and support and waste management services. The figure is an average across everyone in the plan, including former employees with small balances; Form 5500 holds no individual account data.
The employer contributed $2.8M during the year, or $9,429 per active participant against a same-size median of $2,017; participants contributed —. Benefits paid out totalled $518K.
Schedule C lists 4 service provider organisations paid $5,000 or more, with reported compensation of $102K: $233 per participant, well above the same-size median of $141. Administrative expenses charged to the plan were $78K. Schedule C does not capture every cost: fees netted from fund returns and fees the employer pays directly are outside it.
Compared with similar plans
| Measure | This plan | Same size | Same industry | All US DC plans |
|---|---|---|---|---|
| Net assets per participant | $14,476 | $48,746 | $24,581 | $53,102 |
| Employer contributions per active participant | $9,429 | $2,017 | $1,302 | $2,175 |
| Schedule C compensation per participant | $233 | $141 | $98.48 | $123 |
| Schedule C compensation, share of net assets | 1.6% | 0.30% | 0.44% | 0.26% |
| Administrative expenses per participant | $178 | $133 | $95.90 | $116 |
Peer columns are medians for plan year 2024 across defined contribution plans with 100 or more participants: 250 to 499 participants (17,456 plans), administrative and support and waste management services (1,682) and all US plans (63,460). Fee medians cover plans that report an amount.
Statement for the year
- Net assets, beginning of year$3,564,647
- Employer contributions$2,819,271
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$2,819,271
- Total income, including investment results$3,372,009
- Benefits paid$518,479
- Administrative expenses$77,843
- Total expenses$596,322
- Net income$2,775,687
- Net transfers$0
- Net assets, end of year$6,340,334
Participants
- Active participants299
- Retired or separated, receiving benefits0
- Retired or separated, entitled to future benefits139
- Participants with account balances411
- Total participants, end of year438
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Principal Life Insurance Company | Contract Administrator | $50,713 | $0 |
| Leatherback Investments LLC | Investment advisory (plan) | $0 | $28,359 |
| The Retirement Advantage, Inc. | Contract Administrator; Other services | $10,158 | $2,391 |
| Davis & Gilbert LLP | Legal | $10,506 | $0 |
Schedule C, Part I line 2: providers that received $5,000 or more, with the form's own service codes. Individuals named on Schedule C (plan employees, individual trustees) are never shown and their compensation is excluded. Eligible indirect compensation disclosed by formula carries no dollar amount. See how to read Schedule C fees.
Administrative expenses on Schedule H
- Contract administrator fees$77,843
- Total administrative expenses$77,843
Investment structure
Assets at year end by Schedule H category. The form shows the kind of vehicle holding the money, not the funds on the menu.
- Registered investment companies (mutual funds)$6.3M · 100.0%
Audit and compliance answers, as filed
- Accountant's opinionNot stated
- Audit scope limited under ERISA section 103(a)(3)(C)—
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $200,000
- Blackout period during the yearNo
These are the plan administrator's own answers on Schedule H, Part IV. A reported late transmittal is the filer's disclosure of a timing lapse, usually corrected through the Department of Labor's voluntary program; the amount is the total involved, not a loss.
Plan characteristics
2EProfit-sharing plan2FERISA section 404(c) plan2GTotal participant-directed account plan3DPre-approved pension plan
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 561790: Other Services to Buildings & Dwellings.
Similar plans in New York
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Community Labor Administrative Services, Inc. 401(k) Profit Sharing Plan | Community Labor Administrative Services, Inc. | 486 | $12.8M | $26,398 |
| Opal Fuels LLC 401(k) Plan | Opal Fuels LLC | 429 | $29.0M | $67,675 |
| Cornerstone Rehab 401(k) Plan | Nurse Pathways Medical Solutions, LLC DBA Cornerstone Rehab | 504 | $2.9M | $5,809 |
| CLP Circular Services, Inc. 401(k) Plan | CLP Circular Services, Inc. | 417 | — | — |
| Active International 401(k) Savings Plan | Active Media Services, Inc. | 511 | $77.2M | $151,075 |
| West Valley Savings Plan | CH2M Hill BWXT West Valley, LLC | 414 | $86.9M | $209,810 |
Defined contribution plans in administrative and support and waste management services closest in size.
Questions and answers
How big is QFS 401(k) Profit Sharing Plan?
438 participants at the end of the plan year ending 31 Dec 2024, of whom 299 were active employees, with net assets of $6,340,334. Among defined contribution plans that places it in the 250 to 499 participants band, which held 17,456 plans in plan year 2024.
What does Quality Facility Solutions Corp. contribute per participant?
The filing reports $2,819,271 in employer contributions for the year, which is $9,429 per active participant; the median for plans of the same type and size was $2,017 in plan year 2024. Form 5500 reports the total only. It does not state the match formula, and the per-participant figure is an average, not any one person's contribution.
What fees does the plan pay and how do they compare?
Schedule C reports $102,127 in compensation to service provider organisations, $233 per participant or 1.6% of net assets. The same-size median among plans reporting any Schedule C compensation was $141 per participant. Administrative expenses on Schedule H were $77,843. Investment costs deducted inside mutual funds and other pooled vehicles are not itemised on Form 5500, so these figures are a floor rather than a full cost.
Who runs the plan?
The sponsor is Quality Facility Solutions Corp.. Recordkeeping or administration: Principal Life Insurance Company and The Retirement Advantage, Inc.. Investment advisory or management: Leatherback Investments LLC. Form 5500 also names the plan administrator's signer and other individuals; this site publishes organisations only.
Was the audit opinion unqualified?
The filing does not state an accountant's opinion type.
How current is this, and does it show my balance?
This is the Form 5500 for the plan year 1 Jan 2024 to 31 Dec 2024, received by the Department of Labor on 23 Jun 2026. Filings are due seven months after the plan year ends, or nine and a half with an extension, so the public record always runs a year or more behind. It contains plan-level totals only: no individual balances, contributions or names of participants exist in the data.
Provenance
Source: U.S. Department of Labor, Employee Benefits Security Administration, Form 5500 research files (Form 5500, Schedule H, Schedule C) for plan years 2009 to 2025, public domain, with filings received through 24 Aug 2026. This page shows the latest filing on record for EIN 03-0452799, plan 002, received 23 Jun 2026; an amended filing replaces it at the next build. Medians and percentiles are computed by this site; see the methodology. Report an error through corrections.