Checkered Flag Motor Car Company, Inc. 401(k) Review & Grade
Checkered Flag Motor Car Company, Inc. 401(k) Profit Sharing Plan
Virginia Beach, VARetail Trade599 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$990Employer $ per active participant
$4,941Employee $ saved per active participant
0.15%Direct admin cost, % of plan assets
$32.2MNet plan assets, end of year
$42,771Average balance per account
Score breakdown
- Employer generosity30.5 / 5061th percentile for employer $ per participant
- Low cost15.8 / 2563th percentile for low admin cost vs. same-size plans
- Employee saving12.2 / 1581th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score69 / 100 · Grade B
This plan vs. peers
Peers: Retail Trade plans with 500–2,499 active participants (719 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 61th |
| Lower admin cost | 63th |
| Employee saving | 81th |
| 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
- Checkered Flag Motor Car Company put in about $990 per active participant, more than the typical peer ($743). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- 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 | $592,733 |
| Participant (employee) contributions | $2,959,928 |
| Other contributions (incl. rollovers in) | $196,218 |
| Administrative expenses paid from the plan | $45,517 |
| Investment advisory & management fees | $26,375 |
| Benefits paid out | $2,794,043 |
| Net assets, start / end of year | $28.2M / $32.2M |
| Active participants, start / end of year | 620 / 578 |
| Participants with account balances | 754 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Wall, Einhorn & Chernitzer, P.C. |
Largest service providers (Schedule C)
| Merrill Lynch, Pierce, Fenner and S | $19,142 reported compensation |
| Wall, Einhorn & Chernitzer | $13,250 reported compensation |
| Onedigital Investment Advisors LLC | $13,125 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251010110703NAL0008007825001, received 2025-10-10, EIN 54-0755313, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.