Jerry Seiner Chevrolet, Inc. 401(k) Review & Grade
Jerry Seiner Dealerships 401(k) Plan
Salt Lake City, UTRetail Trade719 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$781Employer $ per active participant
$3,166Employee $ saved per active participant
0.02%Direct admin cost, % of plan assets
$29.7MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity25.7 / 5051th percentile for employer $ per participant
- Low cost23.9 / 2596th percentile for low admin cost vs. same-size plans
- Employee saving8.0 / 1554th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score58 / 100 · Grade C
This plan vs. peers
Peers: Retail Trade plans with 500–2,499 active participants (719 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 51th |
| Lower admin cost | 96th |
| Employee saving | 54th |
| Peers that auto-enroll | 48% |
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Red flags from the filing
Corrective distributions: the plan refunded $174,057 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Jerry Seiner Chevrolet put in about $781 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.
- 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 | $561,557 |
| Participant (employee) contributions | $2,276,289 |
| Other contributions (incl. rollovers in) | $1,023,221 |
| Administrative expenses paid from the plan | $5,069 |
| Benefits paid out | $874,807 |
| Net assets, start / end of year | $22.9M / $29.7M |
| Active participants, start / end of year | 697 / 741 |
| Participants with account balances | 330 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Cbiz Cpas P.C. |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $5,069 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014105327NAL0001247555001, received 2025-10-14, EIN 87-0361234, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.