Morse Chevrolet, Inc. 401(k) Review & Grade
Mccarthy Retirement Savings Plan
Olathe, KSRetail Trade514 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$505Employer $ per active participant
$5,554Employee $ saved per active participant
0.62%Direct admin cost, % of plan assets
$26.6MNet plan assets, end of year
$47,659Average balance per account
Score breakdown
- Employer generosity18.5 / 5037th percentile for employer $ per participant
- Low cost4.2 / 2517th percentile for low admin cost vs. same-size plans
- Employee saving13.2 / 1588th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score36 / 100 · Grade D
This plan vs. peers
Peers: Retail Trade plans with 500–2,499 active participants (719 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 37th |
| Lower admin cost | 17th |
| Employee saving | 88th |
| Peers that auto-enroll | 48% |
Get the monthly 401(k) report card
The best and worst plans, new grades as filings post. One email a month, no spam.
Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($450 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- Morse Chevrolet put in about $505 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 (0.62% 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.
- 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 | $260,034 |
| Participant (employee) contributions | $2,857,552 |
| Other contributions (incl. rollovers in) | $81,101 |
| Administrative expenses paid from the plan | $154,599 |
| Investment advisory & management fees | $72,426 |
| Benefits paid out | $3,303,982 |
| Net assets, start / end of year | $23.6M / $26.6M |
| Active participants, start / end of year | 543 / 486 |
| Participants with account balances | 559 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Uhy LLP |
Largest service providers (Schedule C)
| Cbiz Investment Advisory Services | $72,008 reported compensation |
| Capital Group Retirement Plan Servi | $50,006 reported compensation |
| MHM Retirement Plan Solutions | $32,167 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015163738NAL0010342066001, received 2025-10-15, EIN 48-0727552, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.