Fred Haas Motors, LTD. 401(k) Review & Grade
Fred Haas Interests 401(k) Plan
Spring, TXRetail Trade552 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$142Employer $ per active participant
$2,983Employee $ saved per active participant
0.42%Direct admin cost, % of plan assets
$19.0MNet plan assets, end of year
$56,017Average balance per account
Score breakdown
- Employer generosity6.2 / 5012th percentile for employer $ per participant
- Low cost7.2 / 2529th percentile for low admin cost vs. same-size plans
- Employee saving7.4 / 1550th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score21 / 100 · Grade F
This plan vs. peers
Peers: Retail Trade plans with 500–2,499 active participants (719 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 12th |
| Lower admin cost | 29th |
| Employee saving | 50th |
| Peers that auto-enroll | 48% |
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Red flags from the filing
Corrective distributions: the plan refunded $73,266 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Fred Haas Motors put in about $142 per active participant, below the typical peer ($743). 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.
- Direct plan expenses (0.42% of assets) are well above similar-size plans (0.23%). Check your annual fee disclosure, choose low-cost index funds if you can, and think about whether savings beyond the match belong in an IRA.
- 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 | $78,403 |
| Participant (employee) contributions | $1,646,771 |
| Other contributions (incl. rollovers in) | $242,418 |
| Administrative expenses paid from the plan | $74,959 |
| Investment advisory & management fees | $57,651 |
| Benefits paid out | $1,581,967 |
| Net assets, start / end of year | $16.5M / $19.0M |
| Active participants, start / end of year | 559 / 545 |
| Participants with account balances | 339 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Melton & Melton L.L.P. |
Largest service providers (Schedule C)
| Gallagher Benefit Services Inc DBA | $44,506 reported compensation |
| Empower Annuity Insurance Company O | $17,308 reported compensation |
| Empower Advisory Group, LLC | $13,145 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251008124745NAL0005565201001, received 2025-10-08, EIN 74-1674758, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.