Zips Car Wash, LLC 401(k) Review & Grade
Zips Carwash 401(k) Retirement Savings Plan
Plato, TXManagement of Companies1,988 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$160Employer $ per active participant
$330Employee $ saved per active participant
0.87%Direct admin cost, % of plan assets
$3.2MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity1.8 / 504th percentile for employer $ per participant
- Low cost2.1 / 259th percentile for low admin cost vs. same-size plans
- Employee saving0.2 / 151th percentile for employee $ per participant
- Plan features0 / 10No auto-enrollment or default investment reported
- Red-flag deductions-3 pts1 issue reported on the filing
Total score1 / 100 · Grade F
This plan vs. peers
Peers: Management of Companies plans with 500–2,499 active participants (172 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 4th |
| Lower admin cost | 9th |
| Employee saving | 1th |
| Peers that auto-enroll | 58% |
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Red flags from the filing
Corrective distributions: the plan refunded $2,549 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Zips Car Wash put in about $160 per active participant, below the typical peer ($2,492). 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 (0.87% 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.
- 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 | $317,193 |
| Participant (employee) contributions | $655,382 |
| Other contributions (incl. rollovers in) | $19,571 |
| Administrative expenses paid from the plan | $23,732 |
| Contract administrator fees | $23,182 |
| Other admin expenses | $550 |
| Benefits paid out | $407,725 |
| Net assets, start / end of year | $2.2M / $3.2M |
| Active participants, start / end of year | 1,878 / 2,097 |
| Participants with account balances | 129 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Calvetti Ferguson |
Largest service providers (Schedule C)
| Voya Retirement Insurance & Annuity | $23,767 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251002103545NAL0001037794001, received 2025-10-02, EIN 20-1213045, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.