Echopark Automotive, Inc. 401(k) Review & Grade
Echopark Automotive, Inc. 401(k) Plan
Charlotte, NCRetail Trade1,562 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,033Employer $ per active participant
$3,023Employee $ saved per active participant
0.34%Direct admin cost, % of plan assets
$41.4MNet plan assets, end of year
$23,685Average balance per account
Score breakdown
- Employer generosity42.8 / 5086th percentile for employer $ per participant
- Low cost9.0 / 2536th percentile for low admin cost vs. same-size plans
- Employee saving7.6 / 1551th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score66 / 100 · Grade B
This plan vs. peers
Peers: Retail Trade plans with 500–2,499 active participants (719 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 86th |
| Lower admin cost | 36th |
| Employee saving | 51th |
| Peers that auto-enroll | 48% |
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Red flags from the filing
Corrective distributions: the plan refunded $80 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Echopark Automotive put in about $2,033 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 | $3,176,920 |
| Participant (employee) contributions | $4,723,803 |
| Other contributions (incl. rollovers in) | $591,883 |
| Administrative expenses paid from the plan | $136,485 |
| Contract administrator fees | $118,985 |
| Investment advisory & management fees | $17,500 |
| Benefits paid out | $10,330,526 |
| Net assets, start / end of year | $38.6M / $41.4M |
| Active participants, start / end of year | 1,616 / 1,509 |
| Participants with account balances | 1,747 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Forvis Mazars, LLP |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $129,334 reported compensation |
| Investment Research & Ad | $17,500 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250923141952NAL0006933472001, received 2025-09-23, EIN 46-4230940, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.