Colony Tire Corporation 401(k) Review & Grade
Colony Tire Corporation 401(k) Plan
Edenton, NCRetail Trade890 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$992Employer $ per active participant
$2,639Employee $ saved per active participant
0.63%Direct admin cost, % of plan assets
$38.8MNet plan assets, end of year
$50,344Average balance per account
Score breakdown
- Employer generosity30.6 / 5061th percentile for employer $ per participant
- Low cost4.0 / 2516th percentile for low admin cost vs. same-size plans
- Employee saving6.6 / 1544th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score51 / 100 · Grade C
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 | 16th |
| Employee saving | 44th |
| 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
- Colony Tire put in about $992 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.
- Direct plan expenses (0.63% 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 | $882,630 |
| Participant (employee) contributions | $2,348,753 |
| Other contributions (incl. rollovers in) | $360,860 |
| Administrative expenses paid from the plan | $226,650 |
| Contract administrator fees | $144,761 |
| Investment advisory & management fees | $12,358 |
| Other admin expenses | $30,983 |
| Benefits paid out | $2,689,921 |
| Net assets, start / end of year | $33.6M / $38.8M |
| Active participants, start / end of year | 862 / 918 |
| Participants with account balances | 770 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Hantzmon Weibel LLP |
Largest service providers (Schedule C)
| Securities America | $35,245 reported compensation |
| Fidelity Investments Institutional | $27,548 reported compensation |
| Hantzmon Wiebel LLP | $17,500 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251009212830NAL0004208147001, received 2025-10-09, EIN 56-2167232, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.