Belle Tire Distributors, Inc. 401(k) Review & Grade
Belle Tire Distributors, Inc. 401(k) Salary Reduction Plan & Trust
Southfield, MIRetail Trade2,796 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$383Employer $ per active participant
$3,288Employee $ saved per active participant
0.27%Direct admin cost, % of plan assets
$83.0MNet plan assets, end of year
$22,826Average balance per account
Score breakdown
- Employer generosity14.6 / 5029th percentile for employer $ per participant
- Low cost6.5 / 2526th percentile for low admin cost vs. same-size plans
- Employee saving10.3 / 1569th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-23 pts3 issues reported on the filing
Total score18 / 100 · Grade F
This plan vs. peers
Peers: Retail Trade plans with 2,500–9,999 active participants (183 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 29th |
| Lower admin cost | 26th |
| Employee saving | 69th |
| Peers that auto-enroll | 42% |
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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 ($352,809 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Benefits not paid when due: the plan reported failing to pay some benefits on time.
Corrective distributions: the plan refunded $124,704 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Belle Tire Distributors put in about $383 per active participant, below the typical peer ($650). 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 (0.27% of assets) are well above similar-size plans (0.12%). 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.
- 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 | $1,070,206 |
| Participant (employee) contributions | $9,192,619 |
| Other contributions (incl. rollovers in) | $198,714 |
| Administrative expenses paid from the plan | $207,243 |
| Contract administrator fees | $300 |
| Investment advisory & management fees | $88,694 |
| Benefits paid out | $8,685,248 |
| Net assets, start / end of year | $71.8M / $83.0M |
| Active participants, start / end of year | 2,473 / 3,119 |
| Participants with account balances | 3,635 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Doeren Mayhew Assurance |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $102,549 reported compensation |
| Morgan Stanley Smith Barney LLC | $88,694 reported compensation |
| Doeren Mayhew Assurance | $16,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013081656NAL0000945409001, received 2025-10-13, EIN 38-1909144, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.