Crossroads Ford, Inc. 401(k) Review & Grade
Crossroads Ford, Inc. 401(k) Plan
Wake Forest, NCRetail Trade1,442 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$339Employer $ per active participant
$2,140Employee $ saved per active participant
0.08%Direct admin cost, % of plan assets
$40.9MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity13.1 / 5026th percentile for employer $ per participant
- Low cost19.5 / 2578th percentile for low admin cost vs. same-size plans
- Employee saving5.4 / 1536th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score28 / 100 · Grade F
This plan vs. peers
Peers: Retail Trade plans with 500–2,499 active participants (719 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 26th |
| Lower admin cost | 78th |
| Employee saving | 36th |
| Peers that auto-enroll | 48% |
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Red flags from the filing
Benefits not paid when due: the plan reported failing to pay some benefits on time.
Corrective distributions: the plan refunded $181,097 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Crossroads Ford put in about $339 per active participant, below the typical peer ($743). 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.
- 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 | $488,380 |
| Participant (employee) contributions | $3,085,200 |
| Other contributions (incl. rollovers in) | $28,030 |
| Administrative expenses paid from the plan | $32,334 |
| Investment advisory & management fees | $26,734 |
| Benefits paid out | $3,879,896 |
| Net assets, start / end of year | $35.5M / $40.9M |
| Active participants, start / end of year | 1,214 / 1,669 |
| Participants with account balances | 498 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Melissa G. Critcher, CPA, PC |
Largest service providers (Schedule C)
| Strategic Advisors, Inc. | $26,734 reported compensation |
| Fidelity Investments Institutional | $5,600 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014105449NAL0001264291001, received 2025-10-14, EIN 56-1657419, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.