FKG Oil Company DBA Motomart 401(k) Review & Grade
Motomart 401(k) Plan
Belleville, ILRetail Trade534 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$781Employer $ per active participant
$1,488Employee $ saved per active participant
0.51%Direct admin cost, % of plan assets
$15.4MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity25.8 / 5052th percentile for employer $ per participant
- Low cost5.7 / 2523th percentile for low admin cost vs. same-size plans
- Employee saving3.6 / 1524th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-5 pts1 issue reported on the filing
Total score33 / 100 · Grade D
This plan vs. peers
Peers: Retail Trade plans with 500–2,499 active participants (719 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 52th |
| Lower admin cost | 23th |
| Employee saving | 24th |
| Peers that auto-enroll | 48% |
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Red flags from the filing
No fidelity bond: the plan reported it was not covered by a fidelity bond, which protects participants against theft.
What to do if you're in this plan
- FKG Oil Company DBA Motomart put in about $781 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 (0.51% 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 | $417,137 |
| Participant (employee) contributions | $794,563 |
| Other contributions (incl. rollovers in) | $13,832 |
| Administrative expenses paid from the plan | $75,865 |
| Investment advisory & management fees | $44,441 |
| Benefits paid out | $2,018,981 |
| Net assets, start / end of year | $14.5M / $15.4M |
| Active participants, start / end of year | 591 / 477 |
| Participants with account balances | 173 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Wolff & Taylor, P.C. |
Largest service providers (Schedule C)
| Creative Planning LLC | $38,131 reported compensation |
| Empower Annuity Insurance Company O | $31,424 reported compensation |
| Empower Advisory Group, LLC | $6,310 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251007163939NAL0005068337001, received 2025-10-07, EIN 37-0974528, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.