Carrington Holding Company, LLC 401(k) Review & Grade
Carrington 401(k) Plan
Aliso Viejo, CAFinance & Insurance2,650 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,455Employer $ per active participant
$6,500Employee $ saved per active participant
0.07%Direct admin cost, % of plan assets
$128.6MNet plan assets, end of year
$44,162Average balance per account
Score breakdown
- Employer generosity4.3 / 509th percentile for employer $ per participant
- Low cost16.9 / 2568th percentile for low admin cost vs. same-size plans
- Employee saving3.9 / 1526th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score32 / 100 · Grade D
This plan vs. peers
Peers: Finance & Insurance plans with 2,500–9,999 active participants (199 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 9th |
| Lower admin cost | 68th |
| Employee saving | 26th |
| Peers that auto-enroll | 66% |
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Red flags from the filing
Corrective distributions: the plan refunded $26,058 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Carrington Holding Company put in about $1,455 per active participant, below the typical peer ($4,489). 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.
- 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 | $3,853,829 |
| Participant (employee) contributions | $17,220,875 |
| Other contributions (incl. rollovers in) | $820,894 |
| Administrative expenses paid from the plan | $83,904 |
| Benefits paid out | $13,789,051 |
| Net assets, start / end of year | $105.4M / $128.6M |
| Active participants, start / end of year | 2,653 / 2,646 |
| Participants with account balances | 2,911 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Baker Tilly, US, LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $83,904 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250829133523NAL0006149299001, received 2025-08-29, EIN 75-2703422, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.