Autosales, Inc. DBA Summit Racing Equipment 401(k) Review & Grade
Summit Racing Equipment Retirement Plan
Tallmadge, OHRetail Trade1,854 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$4,158Employer $ per active participant
$4,041Employee $ saved per active participant
0.14%Direct admin cost, % of plan assets
$250.1MNet plan assets, end of year
$119,658Average balance per account
Score breakdown
- Employer generosity48.9 / 5098th percentile for employer $ per participant
- Low cost16.0 / 2564th percentile for low admin cost vs. same-size plans
- Employee saving9.9 / 1566th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-20 pts2 issues reported on the filing
Total score65 / 100 · Grade B
This plan vs. peers
Peers: Retail Trade plans with 500–2,499 active participants (719 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 98th |
| Lower admin cost | 64th |
| Employee saving | 66th |
| Peers that auto-enroll | 48% |
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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 ($152,028 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.
What to do if you're in this plan
- Autosales, Inc. DBA Summit Racing Equipment put in about $4,158 per active participant, more than the typical peer ($743). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- 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 | $7,709,859 |
| Participant (employee) contributions | $7,491,956 |
| Other contributions (incl. rollovers in) | $1,902,779 |
| Administrative expenses paid from the plan | $335,470 |
| Other admin expenses | $183,040 |
| Benefits paid out | $16,275,187 |
| Net assets, start / end of year | $213.5M / $250.1M |
| Active participants, start / end of year | 1,857 / 1,851 |
| Participants with account balances | 2,090 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Pease Bell Cpas LLC |
Largest service providers (Schedule C)
| Ubs | $183,040 reported compensation |
| Fidelity Investments Institutional | $128,430 reported compensation |
| Pease, Cpas | $24,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015124734NAL0009656162001, received 2025-10-15, EIN 34-1117102, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.