GPM Investments, LLC 401(k) Review & Grade
GPM Investments 401(k) Plan
Richmond, VARetail Trade13,129 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$107Employer $ per active participant
$376Employee $ saved per active participant
0.59%Direct admin cost, % of plan assets
$39.2MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity1.6 / 503th percentile for employer $ per participant
- Low cost0.6 / 253th percentile for low admin cost vs. same-size plans
- Employee saving0.6 / 154th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-18 pts3 issues reported on the filing
Total score0 / 100 · Grade F
This plan vs. peers
Peers: Retail Trade plans with 10,000+ active participants (124 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 3th |
| Lower admin cost | 3th |
| Employee saving | 4th |
| Peers that auto-enroll | 32% |
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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 ($161,473 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Blackout notice: the plan had a blackout period (when you can't change investments) without confirming the required notice.
Corrective distributions: the plan refunded $423,918 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- GPM Investments put in about $107 per active participant, below the typical peer ($689). 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 (0.59% of assets) are well above similar-size plans (0.09%). 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 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 | $1,399,240 |
| Participant (employee) contributions | $4,932,947 |
| Other contributions (incl. rollovers in) | $1,011,334 |
| Administrative expenses paid from the plan | $212,101 |
| Contract administrator fees | $212,101 |
| Benefits paid out | $4,783,705 |
| Net assets, start / end of year | $32.3M / $39.2M |
| Active participants, start / end of year | 13,124 / 13,134 |
| Participants with account balances | 1,345 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Brown, Edwards and Company LLP |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $212,101 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250908131357NAL0019479633001, received 2025-09-08, EIN 55-0807113, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.