Scott-Mcrae Automotive Group, Lllp 401(k) Review & Grade
Scott-Mcrae Automotive Group, Lllp 401(k) Profit Sharing Plan
Jacksonville, FLRetail Trade694 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,025Employer $ per active participant
$5,522Employee $ saved per active participant
0.16%Direct admin cost, % of plan assets
$41.3MNet plan assets, end of year
$52,032Average balance per account
Score breakdown
- Employer generosity31.1 / 5062th percentile for employer $ per participant
- Low cost15.4 / 2562th percentile for low admin cost vs. same-size plans
- Employee saving13.1 / 1587th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score67 / 100 · Grade B
This plan vs. peers
Peers: Retail Trade plans with 500–2,499 active participants (719 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 62th |
| Lower admin cost | 62th |
| Employee saving | 87th |
| Peers that auto-enroll | 48% |
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Red flags from the filing
Corrective distributions: the plan refunded $20,104 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Scott-Mcrae Automotive Group, Lllp put in about $1,025 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.
- 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 | $711,788 |
| Participant (employee) contributions | $3,835,296 |
| Other contributions (incl. rollovers in) | $0 |
| Administrative expenses paid from the plan | $65,719 |
| Investment advisory & management fees | $52,069 |
| Benefits paid out | $10,410,297 |
| Net assets, start / end of year | $41.6M / $41.3M |
| Active participants, start / end of year | 767 / 622 |
| Participants with account balances | 793 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Forvis Mazars, LLP |
Largest service providers (Schedule C)
| Ubs Financial Services Inc | $52,069 reported compensation |
| BKD LLP | $13,650 reported compensation |
| Empower Annuity Insurance Company O | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251003123936NAL0000808083001, received 2025-10-03, EIN 59-1992210, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.