Automall Payroll Services LTD 401(k) Review & Grade
Automall Payroll Services LTD 401(k) Plan and Trust
West Islip, NYRetail Trade1,128 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$5Employer $ per active participant
$3,659Employee $ saved per active participant
0.80%Direct admin cost, % of plan assets
$19.9MNet plan assets, end of year
$17,705Average balance per account
Score breakdown
- Employer generosity2.9 / 506th percentile for employer $ per participant
- Low cost2.5 / 2510th percentile for low admin cost vs. same-size plans
- Employee saving9.1 / 1561th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score25 / 100 · Grade F
This plan vs. peers
Peers: Retail Trade plans with 500–2,499 active participants (719 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 6th |
| Lower admin cost | 10th |
| Employee saving | 61th |
| Peers that auto-enroll | 48% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Automall Payroll Services put in about $5 per active participant, below the typical peer ($743). 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 (0.80% 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 | $5,453 |
| Participant (employee) contributions | $4,127,184 |
| Other contributions (incl. rollovers in) | $12,655 |
| Administrative expenses paid from the plan | $146,910 |
| Contract administrator fees | $2,207 |
| Investment advisory & management fees | $6,478 |
| Other admin expenses | $24,732 |
| Benefits paid out | $2,861,171 |
| Net assets, start / end of year | $16.7M / $19.9M |
| Active participants, start / end of year | 1,173 / 1,083 |
| Participants with account balances | 1,125 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Tmi CPA |
Largest service providers (Schedule C)
| Empower Life & Annuity Insurance Co | $113,493 reported compensation |
| Osaic Wealth Inc | $42,666 reported compensation |
| National Automobile Dealers Associa | $21,199 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251027110501NAL0003910451001, received 2025-10-27, EIN 32-0323841, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.