Wheel Pros, LLC 401(k) Review & Grade
Wheel Pros, LLC 401(k) Retirement Plan
Greenwood Village, COWholesale Trade1,301 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$911Employer $ per active participant
$4,712Employee $ saved per active participant
0.47%Direct admin cost, % of plan assets
$84.8MNet plan assets, end of year
$49,993Average balance per account
Score breakdown
- Employer generosity10.4 / 5021th percentile for employer $ per participant
- Low cost6.3 / 2525th percentile for low admin cost vs. same-size plans
- Employee saving7.6 / 1551th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score14 / 100 · Grade F
This plan vs. peers
Peers: Wholesale Trade plans with 500–2,499 active participants (603 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 21th |
| Lower admin cost | 25th |
| Employee saving | 51th |
| Peers that auto-enroll | 53% |
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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 ($970,453 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $10,349 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Wheel Pros put in about $911 per active participant, below the typical peer ($1,792). 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 (0.47% 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 | $1,185,288 |
| Participant (employee) contributions | $6,129,905 |
| Other contributions (incl. rollovers in) | $153,042 |
| Administrative expenses paid from the plan | $404,216 |
| Contract administrator fees | $404,216 |
| Benefits paid out | $21,195,683 |
| Net assets, start / end of year | $87.6M / $84.8M |
| Active participants, start / end of year | 1,670 / 932 |
| Participants with account balances | 1,697 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Pension Assurance LLP |
Largest service providers (Schedule C)
| John Hancock USA | $138,274 reported compensation |
| Osaic-Hq | $129,633 reported compensation |
| Creative Retirement Plan Consulting | $43,210 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250929140610NAL0005079347001, received 2025-09-29, EIN 27-0745738, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.