American Credit Acceptance, LLC 401(k) Review & Grade
American Credit Acceptance, LLC 401(k) Plan
Spartanburg, SCFinance & Insurance940 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,197Employer $ per active participant
$3,040Employee $ saved per active participant
0.37%Direct admin cost, % of plan assets
$26.6MNet plan assets, end of year
$23,434Average balance per account
Score breakdown
- Employer generosity12.0 / 5024th percentile for employer $ per participant
- Low cost8.3 / 2533th percentile for low admin cost vs. same-size plans
- Employee saving1.0 / 157th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-5 pts1 issue reported on the filing
Total score26 / 100 · Grade F
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 24th |
| Lower admin cost | 33th |
| Employee saving | 7th |
| Peers that auto-enroll | 62% |
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Red flags from the filing
Auditor disclaimer: the auditor issued a disclaimer of opinion.
What to do if you're in this plan
- American Credit Acceptance put in about $2,197 per active participant, below the typical peer ($3,606). 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 (0.37% 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 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 | $2,063,951 |
| Participant (employee) contributions | $2,856,540 |
| Other contributions (incl. rollovers in) | $561,085 |
| Administrative expenses paid from the plan | $90,806 |
| Contract administrator fees | $79,008 |
| Investment advisory & management fees | $11,798 |
| Benefits paid out | $4,304,210 |
| Net assets, start / end of year | $22.4M / $26.6M |
| Active participants, start / end of year | 938 / 941 |
| Participants with account balances | 1,136 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Gosnell Menard Robinson Infante CPA |
Largest service providers (Schedule C)
| Ascensus LLC | $79,008 reported compensation |
| One Digital Investment Advisors | $11,798 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014144229NAL0006384210001, received 2025-10-14, EIN 26-0150727, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.