Petersburg Motor Company DBA Carter Myers Automotive 401(k) Review & Grade
Cma Group Salary Deferral Plan
Charlottesville, VARetail Trade948 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$427Employer $ per active participant
$4,431Employee $ saved per active participant
0.22%Direct admin cost, % of plan assets
$31.2MNet plan assets, end of year
$28,441Average balance per account
Score breakdown
- Employer generosity16.2 / 5032th percentile for employer $ per participant
- Low cost12.9 / 2552th percentile for low admin cost vs. same-size plans
- Employee saving10.9 / 1573th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score50 / 100 · Grade C
This plan vs. peers
Peers: Retail Trade plans with 500–2,499 active participants (719 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 32th |
| Lower admin cost | 52th |
| Employee saving | 73th |
| Peers that auto-enroll | 48% |
Get the monthly 401(k) report card
The best and worst plans, new grades as filings post. One email a month, no spam.
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
- Petersburg Motor Company DBA Carter Myers Automotive put in about $427 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.
- Fund expense ratios aren't in the filing. Look them up in your 404(a)(5) fee disclosure and favor low-cost index or target-date funds.
- 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 | $404,983 |
| Participant (employee) contributions | $4,202,460 |
| Other contributions (incl. rollovers in) | $368,701 |
| Administrative expenses paid from the plan | $63,794 |
| Investment advisory & management fees | $30,260 |
| Benefits paid out | $5,427,040 |
| Net assets, start / end of year | $27.8M / $31.2M |
| Active participants, start / end of year | 968 / 929 |
| Participants with account balances | 1,097 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Brown Edwards & Company, LLP |
Largest service providers (Schedule C)
| Onedigital Investment Advisors LLC | $30,260 reported compensation |
| Empower Annuity Insurance Company O | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250729123344NAL0003280513001, received 2025-07-29, EIN 54-0338910, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.