Cochran Motors, Inc. 401(k) Review & Grade
Number 1 Cochran Retirement Plan
Monroeville, PARetail Trade1,697 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$658Employer $ per active participant
$4,721Employee $ saved per active participant
0.38%Direct admin cost, % of plan assets
$77.7MNet plan assets, end of year
$41,532Average balance per account
Score breakdown
- Employer generosity23.0 / 5046th percentile for employer $ per participant
- Low cost8.1 / 2532th percentile for low admin cost vs. same-size plans
- Employee saving11.6 / 1578th percentile for employee $ per participant
- Plan features0 / 10No auto-enrollment or default investment reported
- Red-flag deductions-3 pts1 issue reported on the filing
Total score40 / 100 · Grade D
This plan vs. peers
Peers: Retail Trade plans with 500–2,499 active participants (719 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 46th |
| Lower admin cost | 32th |
| Employee saving | 78th |
| Peers that auto-enroll | 48% |
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Red flags from the filing
Corrective distributions: the plan refunded $2,475 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Cochran Motors put in about $658 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 (0.38% 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 | $1,116,133 |
| Participant (employee) contributions | $8,011,444 |
| Other contributions (incl. rollovers in) | $1,519,979 |
| Administrative expenses paid from the plan | $267,928 |
| Contract administrator fees | $600 |
| Investment advisory & management fees | $87,292 |
| Benefits paid out | $6,206,287 |
| Net assets, start / end of year | $64.2M / $77.7M |
| Active participants, start / end of year | 1,521 / 1,873 |
| Participants with account balances | 1,872 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Schneider Downs & Co., Inc. |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $180,636 reported compensation |
| Wells Fargo Clearing Services LLC | $87,292 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015102343NAL0002141107001, received 2025-10-15, EIN 25-1251007, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.