Galpin Motors, Inc. 401(k) Review & Grade
Galpin Motors, Inc. 401(k) Profit Sharing Plan
North Hills, CARetail Trade1,126 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$743Employer $ per active participant
$5,992Employee $ saved per active participant
0.20%Direct admin cost, % of plan assets
$87.3MNet plan assets, end of year
$60,363Average balance per account
Score breakdown
- Employer generosity24.9 / 5050th percentile for employer $ per participant
- Low cost13.4 / 2554th percentile for low admin cost vs. same-size plans
- Employee saving13.7 / 1592th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score62 / 100 · Grade B
This plan vs. peers
Peers: Retail Trade plans with 500–2,499 active participants (719 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 50th |
| Lower admin cost | 54th |
| Employee saving | 92th |
| 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
- Galpin Motors put in about $743 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.
- 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 | $836,846 |
| Participant (employee) contributions | $6,749,724 |
| Other contributions (incl. rollovers in) | $215,688 |
| Administrative expenses paid from the plan | $173,270 |
| Contract administrator fees | $23,528 |
| Investment advisory & management fees | $71,495 |
| Other admin expenses | $2,401 |
| Benefits paid out | $9,771,993 |
| Net assets, start / end of year | $82.1M / $87.3M |
| Active participants, start / end of year | 1,083 / 1,170 |
| Participants with account balances | 1,447 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Forvis Mazars, LLP |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company | $99,260 reported compensation |
| World Investment Advisors LLC | $53,641 reported compensation |
| Pensionmark Financial Group LLC | $17,855 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013162211NAL0001704305001, received 2025-10-13, EIN 95-1472486, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.