Carco Group, Inc. 401(k) Review & Grade
Carco Group, Inc. Profit Sharing and 401(k) Plan
Easton, MDFinance & Insurance615 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,671Employer $ per active participant
$5,204Employee $ saved per active participant
0.31%Direct admin cost, % of plan assets
$37.4MNet plan assets, end of year
$52,580Average balance per account
Score breakdown
- Employer generosity8.4 / 5017th percentile for employer $ per participant
- Low cost9.8 / 2539th percentile for low admin cost vs. same-size plans
- Employee saving3.9 / 1526th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score29 / 100 · Grade F
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 17th |
| Lower admin cost | 39th |
| Employee saving | 26th |
| Peers that auto-enroll | 62% |
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Red flags from the filing
Corrective distributions: the plan refunded $9,148 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Carco Group put in about $1,671 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.
- 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.
- 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 | $1,027,655 |
| Participant (employee) contributions | $3,200,442 |
| Other contributions (incl. rollovers in) | $349,777 |
| Administrative expenses paid from the plan | $111,172 |
| Investment advisory & management fees | $90,369 |
| Benefits paid out | $4,919,223 |
| Net assets, start / end of year | $33.6M / $37.4M |
| Active participants, start / end of year | 664 / 566 |
| Participants with account balances | 711 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Eichen & Dimeglio P.C. |
Largest service providers (Schedule C)
| Morgan Stanley Smith Barney | $90,369 reported compensation |
| Adp, Inc. | $20,803 reported compensation |
| Adp Broker-Dealer | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014061503NAL0003287168001, received 2025-10-14, EIN 11-2504343, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.