Sheehy Auto Stores, Inc. 401(k) Review & Grade
The Sheehy Organization 401(k) Savings Plan
Fairfax, VARetail Trade1,740 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,176Employer $ per active participant
$5,804Employee $ saved per active participant
0.33%Direct admin cost, % of plan assets
$130.6MNet plan assets, end of year
$55,236Average balance per account
Score breakdown
- Employer generosity43.9 / 5088th percentile for employer $ per participant
- Low cost9.3 / 2537th percentile for low admin cost vs. same-size plans
- Employee saving13.5 / 1590th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score74 / 100 · Grade B
This plan vs. peers
Peers: Retail Trade plans with 500–2,499 active participants (719 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 88th |
| Lower admin cost | 37th |
| Employee saving | 90th |
| Peers that auto-enroll | 48% |
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Red flags from the filing
Corrective distributions: the plan refunded $4,061 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Sheehy Auto Stores put in about $2,176 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.
- 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 | $3,786,695 |
| Participant (employee) contributions | $10,101,564 |
| Other contributions (incl. rollovers in) | $937,535 |
| Administrative expenses paid from the plan | $393,411 |
| Investment advisory & management fees | $108,668 |
| Benefits paid out | $8,559,110 |
| Net assets, start / end of year | $108.7M / $130.6M |
| Active participants, start / end of year | 1,770 / 1,711 |
| Participants with account balances | 2,364 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Baker Tilly US LLP |
Largest service providers (Schedule C)
| Adp, Inc. | $256,689 reported compensation |
| Cetera Investment Advisers LLC | $57,218 reported compensation |
| James A. Reichert | $52,203 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251001053105NAL0012830337001, received 2025-10-01, EIN 54-1952240, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.