Tire Discounters, Inc. 401(k) Review & Grade
Tire Discounters Retirement Savings Plan
Cincinnati, OHRetail Trade2,550 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$573Employer $ per active participant
$2,365Employee $ saved per active participant
0.90%Direct admin cost, % of plan assets
$32.6MNet plan assets, end of year
$12,967Average balance per account
Score breakdown
- Employer generosity22.5 / 5045th percentile for employer $ per participant
- Low cost1.4 / 255th percentile for low admin cost vs. same-size plans
- Employee saving8.7 / 1558th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score40 / 100 · Grade D
This plan vs. peers
Peers: Retail Trade plans with 2,500–9,999 active participants (183 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 45th |
| Lower admin cost | 5th |
| Employee saving | 58th |
| Peers that auto-enroll | 42% |
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Red flags from the filing
Corrective distributions: the plan refunded $3,636 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Tire Discounters put in about $573 per active participant, below the typical peer ($650). 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 (0.90% 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.
- 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 | $1,462,495 |
| Participant (employee) contributions | $6,032,727 |
| Other contributions (incl. rollovers in) | $98,841 |
| Administrative expenses paid from the plan | $257,351 |
| Contract administrator fees | $257,351 |
| Benefits paid out | $5,601,252 |
| Net assets, start / end of year | $24.8M / $32.6M |
| Active participants, start / end of year | 2,313 / 2,788 |
| Participants with account balances | 2,516 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Clark, Schaefer, Hackett % Co. |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $257,351 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014123445NAL0005944626001, received 2025-10-14, EIN 31-1101497, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.