Quest Diagnostics Clinical Laboratories 401(k) match, vesting and fees
What Quest Diagnostics Clinical Laboratories' 401(k) plan says about matching contributions
Employer Matching Contributions - Members of the Quest Control Group match 100% of a participant's contribution, up to 5% of eligible compensation, in cash after the participant completes 12 months of service, as defined, with the Quest Control Group. Employer matching contributions are remitted to the Plan at the same time that the corresponding participants' contributions are remitted.
Quoted directly from the filing. Plan terms may have changed; check your current Summary Plan Description.
Plan features
Indented passages are quoted word for word from the audit report; plan terms may have changed since, so check your current Summary Plan Description.
| Employer match | Quoted from the filing above | Audit report, p. 33 ↗ |
| Match vesting | Vesting - Participants immediately vest in their voluntary contributions and employer matching contributions plus actual earnings thereon. Certain participants who were active in plans sponsored by previous employers have vesting requirements applied to their previous employer contribution accounts consistent with the vesting requirements in effect before the assets were merged into the Plan. | Audit report, p. 33 ↗ |
| Loans | Notes Receivable from Participants - Participants are permitted to obtain loans in amounts not less than one thousand dollars and up to the lesser of (1) fifty thousand dollars, subject to certain limitations as defined by the Plan, or (2) 50% of the participant's vested portion of their account value. Except with respect to pre-existing loans transferred or merged into the Plan and as set forth below, a participant may have only one outstanding loan at a time and loans are repayable over a period of up to five years, unless the proceeds are used to purchase a primary residence, in which case a period of up to ten years (effective January 2025, thirty years) is permitted. Loans are secured by one-half of a participant's vested account balance and bear interest at prime plus 1%. | Audit report, p. 34 ↗ |
| Recordkeeper | Fidelity Investments Institutional | Schedule C ↗ |
| Independent auditor | Grant Thornton LLP (unmodified opinion) | Schedule H ↗ |
| Plan type and status | 401(k) · Active | Form 5500 ↗ |
All rows are from the plan year 2024 filing; plan features from its audit report.
How the plan compares
Plan year 2024 medians for 244 defined-contribution plans in health care and social assistance with 10,000 to 49,999 participants.
| Quest Diagnostics Clinical Laboratories: employer contribution per participant | $2,159 | |
| Peer median | $2,155 |
| Quest Diagnostics Clinical Laboratories: average balance | $119,136 | |
| Peer median | $66,935 |
| Quest Diagnostics Clinical Laboratories: admin expenses ÷ assets | 0.04% | |
| Peer median | 0.08% |
Admin expenses are the plan's reported administrative expenses divided by its assets; they do not include fund expense ratios.
Plan history
Plan assets went from $5.1B at the end of plan year 2023 to $5.6B at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 62,875 | $5.6B | $101M | $2,159 | 0.04% | Quoted in the audit report, p. 33 ↗ | Form 5500 ↗ |
| 2023 | 61,319 | $5.1B | $98.8M | $2,146 | 0.04% | Not published | Form 5500 ↗ |
Common questions
Does Quest Diagnostics Clinical Laboratories match 401(k) contributions?
The audit report attached to the The Quest Diagnostics Profit Sharing Plan's plan year 2024 Form 5500, page 33 says: “Employer Matching Contributions - Members of the Quest Control Group match 100% of a participant's contribution, up to 5% of eligible compensation, in cash after the participant completes 12 months of service, as defined, with the Quest Control Group. Employer matching contributions are remitted to the Plan at the same time that the corresponding participants' contributions are remitted.” Plan terms may have changed; check your current Summary Plan Description.
When is the Quest Diagnostics Clinical Laboratories 401(k) match vested?
The audit report attached to the plan year 2024 Form 5500, page 33 says: “Vesting - Participants immediately vest in their voluntary contributions and employer matching contributions plus actual earnings thereon. Certain participants who were active in plans sponsored by previous employers have vesting requirements applied to their previous employer contribution accounts consistent with the vesting requirements in effect before the assets were merged into the Plan.”
Who manages the Quest Diagnostics Clinical Laboratories 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is Fidelity Investments Institutional. The plan administrator is Quest Diagnostics Clinical Laboratories, Inc..
I left Quest Diagnostics Clinical Laboratories. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Quest Diagnostics Clinical Laboratories, Inc., (800) 222-0446) or the recordkeeper, Fidelity Investments Institutional. The Quest Diagnostics Clinical Laboratories old 401(k) page lists the contacts from every plan filing. Find an old Quest Diagnostics Clinical Laboratories 401(k)
Data from the public Form 5500 annual reports Quest Diagnostics Clinical Laboratories filed with the U.S. Department of Labor (plan years 2023 and 2024) and, where noted, the attached independent auditor's report. Plan terms may have changed since the filing; check your current Summary Plan Description. PlanFacts is not affiliated with Quest Diagnostics Clinical Laboratories. Not financial advice. Report a correction · Methodology