Pep Boys - Manny, Moe and Jack of Puerto Rico, Inc. 401(k) Review & Grade
The Pep Boys Savings Plan - Puerto Rico
Bala Cynwyd, PARetail Trade696 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$147Employer $ per active participant
$759Employee $ saved per active participant
0.67%Direct admin cost, % of plan assets
$6.2MNet plan assets, end of year
$11,471Average balance per account
Score breakdown
- Employer generosity6.3 / 5013th percentile for employer $ per participant
- Low cost3.5 / 2514th percentile for low admin cost vs. same-size plans
- Employee saving1.5 / 1510th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score21 / 100 · Grade F
This plan vs. peers
Peers: Retail Trade plans with 500–2,499 active participants (719 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 13th |
| Lower admin cost | 14th |
| Employee saving | 10th |
| 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
- Pep Boys - Manny, Moe and Jack of Puerto Rico put in about $147 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 (0.67% 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.
- 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 | $102,055 |
| Participant (employee) contributions | $528,006 |
| Other contributions (incl. rollovers in) | – |
| Administrative expenses paid from the plan | $43,147 |
| Benefits paid out | $1,755,644 |
| Net assets, start / end of year | $6.6M / $6.2M |
| Active participants, start / end of year | 978 / 413 |
| Participants with account balances | 540 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Grant Thornton LLP |
Largest service providers (Schedule C)
| T Rowe Price RPS Inc | $37,874 reported compensation |
| Thompson Hine | $3,494 reported compensation |
| Fid Inv Instl Ops Co | $1,778 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015121013NAL0002381699001, received 2025-10-15, EIN 51-0363784, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.