Copart, Inc. 401(k) Review & Grade
Copart, Inc. 401(k) Retirement Savings Plan
Dallas, TXWholesale Trade7,271 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$346Employer $ per active participant
$1,819Employee $ saved per active participant
0.50%Direct admin cost, % of plan assets
$131.4MNet plan assets, end of year
$23,301Average balance per account
Score breakdown
- Employer generosity3.4 / 507th percentile for employer $ per participant
- Low cost3.2 / 2513th percentile for low admin cost vs. same-size plans
- Employee saving1.8 / 1512th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score8 / 100 · Grade F
This plan vs. peers
Peers: Wholesale Trade plans with 2,500–9,999 active participants (103 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 7th |
| Lower admin cost | 13th |
| Employee saving | 12th |
| Peers that auto-enroll | 62% |
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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 ($2,647,677 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- Copart put in about $346 per active participant, below the typical peer ($2,459). 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 (0.50% 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 | $2,518,038 |
| Participant (employee) contributions | $13,222,892 |
| Other contributions (incl. rollovers in) | $463,978 |
| Administrative expenses paid from the plan | $620,000 |
| Investment advisory & management fees | $81,397 |
| Other admin expenses | $51,150 |
| Benefits paid out | $15,615,751 |
| Net assets, start / end of year | $114.7M / $131.4M |
| Active participants, start / end of year | 7,339 / 7,203 |
| Participants with account balances | 5,638 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Baker Tilly US, LLP |
Largest service providers (Schedule C)
| Voya Retirement Insurance & Annuity | $487,453 reported compensation |
| Lockton Investment Advisors, LLC | $72,694 reported compensation |
| Morningstar Investment Management | $28,547 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015083613NAL0002113091001, received 2025-10-15, EIN 94-2867490, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.