Parts Authority LLC 401(k) Review & Grade
Parts Authority LLC Profit Share/401k Plan
Lake Success, NYWholesale Trade6,058 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$216Employer $ per active participant
$1,502Employee $ saved per active participant
0.52%Direct admin cost, % of plan assets
$77.5MNet plan assets, end of year
$9,830Average balance per account
Score breakdown
- Employer generosity2.5 / 505th percentile for employer $ per participant
- Low cost3.1 / 2512th percentile for low admin cost vs. same-size plans
- Employee saving1.3 / 159th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score7 / 100 · Grade F
This plan vs. peers
Peers: Wholesale Trade plans with 2,500–9,999 active participants (103 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 5th |
| Lower admin cost | 12th |
| Employee saving | 9th |
| Peers that auto-enroll | 62% |
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Red flags from the filing
Corrective distributions: the plan refunded $196,552 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Parts Authority put in about $216 per active participant, below the typical peer ($2,459). 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 (0.52% of assets) are well above similar-size plans (0.12%). 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 | $1,306,356 |
| Participant (employee) contributions | $9,098,942 |
| Other contributions (incl. rollovers in) | $535,107 |
| Administrative expenses paid from the plan | $375,193 |
| Investment advisory & management fees | $230,654 |
| Benefits paid out | $9,006,757 |
| Net assets, start / end of year | $67.3M / $77.5M |
| Active participants, start / end of year | 6,442 / 5,675 |
| Participants with account balances | 7,886 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | KWM Cpas LLP |
Largest service providers (Schedule C)
| Adp, Inc. | $330,161 reported compensation |
| Ubs Financial Services, Inc. | $45,030 reported compensation |
| Adp Broker-Dealer | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015053439NAL0001917731001, received 2025-10-15, EIN 81-2962479, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.