Shorkey Group Management, LLC 401(k) Review & Grade
Jim Shorkey Family Auto Group 401(k) Plan
Irwin, PARetail Trade931 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$371Employer $ per active participant
$2,667Employee $ saved per active participant
0.67%Direct admin cost, % of plan assets
$12.7MNet plan assets, end of year
$11,709Average balance per account
Score breakdown
- Employer generosity14.3 / 5029th percentile for employer $ per participant
- Low cost3.6 / 2514th percentile for low admin cost vs. same-size plans
- Employee saving6.7 / 1545th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score18 / 100 · Grade F
This plan vs. peers
Peers: Retail Trade plans with 500–2,499 active participants (719 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 29th |
| Lower admin cost | 14th |
| Employee saving | 45th |
| Peers that auto-enroll | 48% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($536,753 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- Shorkey Group Management put in about $371 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 reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- 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 | $345,854 |
| Participant (employee) contributions | $2,483,322 |
| Other contributions (incl. rollovers in) | $14,331 |
| Administrative expenses paid from the plan | $76,244 |
| Contract administrator fees | $23,339 |
| Investment advisory & management fees | $52,905 |
| Benefits paid out | $1,548,162 |
| Net assets, start / end of year | $10.1M / $12.7M |
| Active participants, start / end of year | 926 / 936 |
| Participants with account balances | 1,084 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Rosenfield and Company, PLLC |
Largest service providers (Schedule C)
| Nationwide | $35,954 reported compensation |
| LPL Financial - SMS Service Provide | $25,728 reported compensation |
| Dunbar, Bender & Zapf, Inc. | $22,918 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015105120NAL0008824882001, received 2025-10-15, EIN 47-4382322, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.