Mcgard LLC 401(k) Review & Grade
L . D. Mccauley/mcgard Retirement Plan
Orchard Park, NYWholesale Trade626 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,662Employer $ per active participant
$3,732Employee $ saved per active participant
0.08%Direct admin cost, % of plan assets
$58.9MNet plan assets, end of year
$87,204Average balance per account
Score breakdown
- Employer generosity23.2 / 5046th percentile for employer $ per participant
- Low cost19.7 / 2579th percentile for low admin cost vs. same-size plans
- Employee saving5.2 / 1534th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score48 / 100 · Grade C
This plan vs. peers
Peers: Wholesale Trade plans with 500–2,499 active participants (603 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 46th |
| Lower admin cost | 79th |
| Employee saving | 34th |
| Peers that auto-enroll | 53% |
Get the monthly 401(k) report card
The best and worst plans, new grades as filings post. One email a month, no spam.
Red flags from the filing
Corrective distributions: the plan refunded $18,383 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Mcgard put in about $1,662 per active participant, below the typical peer ($1,792). 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.
- 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 | $1,041,542 |
| Participant (employee) contributions | $2,338,282 |
| Other contributions (incl. rollovers in) | $782,868 |
| Administrative expenses paid from the plan | $45,368 |
| Benefits paid out | $5,436,082 |
| Net assets, start / end of year | $53.3M / $58.9M |
| Active participants, start / end of year | 615 / 638 |
| Participants with account balances | 675 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Wipfli LLP |
Largest service providers (Schedule C)
| Merrill Lynch, Pierce, Fenner and S | $45,368 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251003114245NAL0000783443001, received 2025-10-03, EIN 20-2374195, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.