Marinemax, Inc. 401(k) Review & Grade
Marinemax, Inc. 401(k) Profit Sharing Plan
Oldsmar, FLRetail Trade3,062 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,861Employer $ per active participant
$5,851Employee $ saved per active participant
0.26%Direct admin cost, % of plan assets
$233.4MNet plan assets, end of year
$71,345Average balance per account
Score breakdown
- Employer generosity42.9 / 5086th percentile for employer $ per participant
- Low cost6.7 / 2527th percentile for low admin cost vs. same-size plans
- Employee saving13.8 / 1592th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score70 / 100 · Grade B
This plan vs. peers
Peers: Retail Trade plans with 2,500–9,999 active participants (183 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 86th |
| Lower admin cost | 27th |
| Employee saving | 92th |
| Peers that auto-enroll | 42% |
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Red flags from the filing
Corrective distributions: the plan refunded $46,457 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Marinemax put in about $1,861 per active participant, more than the typical peer ($650). 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.
- Direct plan expenses (0.26% of assets) are well above similar-size plans (0.12%). 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 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 | $5,697,011 |
| Participant (employee) contributions | $17,911,973 |
| Other contributions (incl. rollovers in) | $1,479,583 |
| Administrative expenses paid from the plan | $559,610 |
| Investment advisory & management fees | $234,642 |
| Other admin expenses | $1,500 |
| Benefits paid out | $19,672,462 |
| Net assets, start / end of year | $196.6M / $233.4M |
| Active participants, start / end of year | 3,313 / 2,810 |
| Participants with account balances | 3,272 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Cbiz Cpas P.C |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company O | $300,468 reported compensation |
| Morgan Stanley | $138,462 reported compensation |
| Empower Advisory Group, LLC | $96,180 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251001133246NAL0013293153001, received 2025-10-01, EIN 59-3496957, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.