Black's Tire Service, Inc. 401(k) Review & Grade
Black's Tire Service, Inc. 401(k) Retirement Plan
Whiteville, NCRetail Trade678 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,764Employer $ per active participant
$3,184Employee $ saved per active participant
0.58%Direct admin cost, % of plan assets
$33.4MNet plan assets, end of year
$62,378Average balance per account
Score breakdown
- Employer generosity40.5 / 5081th percentile for employer $ per participant
- Low cost4.6 / 2518th percentile for low admin cost vs. same-size plans
- Employee saving8.1 / 1554th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score56 / 100 · Grade C
This plan vs. peers
Peers: Retail Trade plans with 500–2,499 active participants (719 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 81th |
| Lower admin cost | 18th |
| Employee saving | 54th |
| Peers that auto-enroll | 48% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Black's Tire Service put in about $1,764 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.
- Direct plan expenses (0.58% 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 | $1,195,699 |
| Participant (employee) contributions | $2,158,567 |
| Other contributions (incl. rollovers in) | $30,675 |
| Administrative expenses paid from the plan | $180,401 |
| Investment advisory & management fees | $112,654 |
| Benefits paid out | $2,538,678 |
| Net assets, start / end of year | $28.6M / $33.4M |
| Active participants, start / end of year | 443 / 913 |
| Participants with account balances | 535 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Bernard Robinson & Company, LLP |
Largest service providers (Schedule C)
| FSC Securities Corp | $81,954 reported compensation |
| Fidelity Investments Institutional | $67,747 reported compensation |
| Osaic Wealth Inc | $30,700 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250813110814NAL0025360562001, received 2025-08-13, EIN 57-0828077, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.