Giti Tire USA LTD. 401(k) Review & Grade
Giti Tire USA LTD 401k Profit Sharing Plan and Trust
Charlotte, NCWholesale Trade770 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$719Employer $ per active participant
$2,651Employee $ saved per active participant
0.23%Direct admin cost, % of plan assets
$15.7MNet plan assets, end of year
$31,332Average balance per account
Score breakdown
- Employer generosity7.1 / 5014th percentile for employer $ per participant
- Low cost12.5 / 2550th percentile for low admin cost vs. same-size plans
- Employee saving2.7 / 1518th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score22 / 100 · Grade F
This plan vs. peers
Peers: Wholesale Trade plans with 500–2,499 active participants (603 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 14th |
| Lower admin cost | 50th |
| Employee saving | 18th |
| Peers that auto-enroll | 53% |
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Red flags from the filing
Corrective distributions: the plan refunded $72,093 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Giti Tire USA put in about $719 per active participant, below the typical peer ($1,792). 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.
- 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 | $553,678 |
| Participant (employee) contributions | $2,042,338 |
| Other contributions (incl. rollovers in) | $70,636 |
| Administrative expenses paid from the plan | $34,393 |
| Investment advisory & management fees | $811 |
| Benefits paid out | $3,001,144 |
| Net assets, start / end of year | $14.2M / $15.7M |
| Active participants, start / end of year | 714 / 827 |
| Participants with account balances | 502 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Thong, Yu, Wong & Lee LLP |
Largest service providers (Schedule C)
| Adp, Inc. | $34,392 reported compensation |
| Adp Broker-Dealer | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250726051722NAL0003817363001, received 2025-07-26, EIN 65-1259770, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.