Garber Management Group, Inc. 401(k) Review & Grade
GMG Employees Savings Plan
Saginaw, MIRetail Trade2,224 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,704Employer $ per active participant
$4,525Employee $ saved per active participant
0.32%Direct admin cost, % of plan assets
$126.5MNet plan assets, end of year
$48,375Average balance per account
Score breakdown
- Employer generosity39.8 / 5080th percentile for employer $ per participant
- Low cost9.6 / 2538th percentile for low admin cost vs. same-size plans
- Employee saving11.1 / 1574th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score61 / 100 · Grade B
This plan vs. peers
Peers: Retail Trade plans with 500–2,499 active participants (719 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 80th |
| Lower admin cost | 38th |
| Employee saving | 74th |
| Peers that auto-enroll | 48% |
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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 ($40,553 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
- Garber Management Group put in about $1,704 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.
- 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 | $3,790,615 |
| Participant (employee) contributions | $10,064,664 |
| Other contributions (incl. rollovers in) | $1,122,894 |
| Administrative expenses paid from the plan | $373,328 |
| Other admin expenses | $373,328 |
| Benefits paid out | $8,219,750 |
| Net assets, start / end of year | $107.0M / $126.5M |
| Active participants, start / end of year | 2,237 / 2,211 |
| Participants with account balances | 2,614 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Yeo & Yeo |
Largest service providers (Schedule C)
| American Trust Company | $195,185 reported compensation |
| Michael T. Stelter & Associates | $134,242 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014163131NAL0006876274001, received 2025-10-14, EIN 38-1280515, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.