Am General LLC 401(k) Review & Grade
Am General Capital Accumulation and Employer Retirement Contribution Plan
South Bend, INManufacturing538 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$8,721Employer $ per active participant
$9,177Employee $ saved per active participant
0.07%Direct admin cost, % of plan assets
$131.1MNet plan assets, end of year
$162,891Average balance per account
Score breakdown
- Employer generosity47.2 / 5094th percentile for employer $ per participant
- Low cost20.5 / 2582th percentile for low admin cost vs. same-size plans
- Employee saving13.0 / 1586th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score88 / 100 · Grade A
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 94th |
| Lower admin cost | 82th |
| Employee saving | 86th |
| Peers that auto-enroll | 59% |
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Red flags from the filing
Corrective distributions: the plan refunded $1,847 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Am General put in about $8,721 per active participant, more than the typical peer ($2,320). 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 | $4,687,711 |
| Participant (employee) contributions | $4,932,476 |
| Other contributions (incl. rollovers in) | $1,073,060 |
| Administrative expenses paid from the plan | $83,534 |
| Investment advisory & management fees | $64,281 |
| Benefits paid out | $11,197,337 |
| Net assets, start / end of year | $113.1M / $131.1M |
| Active participants, start / end of year | 528 / 547 |
| Participants with account balances | 805 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | RSM US LLP |
Largest service providers (Schedule C)
| Cbiz Investment Advisory Servi | $51,159 reported compensation |
| Schwab Retirement Plan Services,inc | $17,157 reported compensation |
| RSM US LLP | $15,200 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014090421NAL0002464849009, received 2025-10-14, EIN 03-0448255, plan #023, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.