Car Wash Partners, Inc. DBA Mister Car Wash 401(k) Review & Grade
Mister Car Wash 401(k) Retirement Plan
Tucson, AZOther Services4,809 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$281Employer $ per active participant
$961Employee $ saved per active participant
0.71%Direct admin cost, % of plan assets
$29.3MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity7.3 / 5015th percentile for employer $ per participant
- Low cost1.9 / 258th percentile for low admin cost vs. same-size plans
- Employee saving2.2 / 1515th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score1 / 100 · Grade F
This plan vs. peers
Peers: Other Services plans with 2,500–9,999 active participants (42 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 15th |
| Lower admin cost | 8th |
| Employee saving | 15th |
| Peers that auto-enroll | 45% |
Get the monthly 401(k) report card
The best and worst plans, new grades as filings post. One email a month, no spam.
Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($7,060 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $78,595 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Car Wash Partners, Inc. DBA Mister Car Wash put in about $281 per active participant, below the typical peer ($1,132). 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 (0.71% 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 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 | $1,352,145 |
| Participant (employee) contributions | $4,620,846 |
| Other contributions (incl. rollovers in) | $90,801 |
| Administrative expenses paid from the plan | $189,304 |
| Investment advisory & management fees | $1,911 |
| Other admin expenses | $74,667 |
| Benefits paid out | $3,655,319 |
| Net assets, start / end of year | $24.0M / $29.3M |
| Active participants, start / end of year | 4,841 / 4,777 |
| Participants with account balances | 1,817 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Cliftonlarsonallen LLP |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company O | $112,726 reported compensation |
| Mercer (US) Inc Mercer Investments | $74,667 reported compensation |
| Empower Advisory Group, LLC | $1,911 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250915121542NAL0001086625001, received 2025-09-15, EIN 04-3299064, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.