Miami Automotive Retail, Inc. 401(k) Review & Grade
Murgado Automotive Group 401(k) Plan
Miami, FLRetail Trade794 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$286Employer $ per active participant
$2,223Employee $ saved per active participant
0.83%Direct admin cost, % of plan assets
$36.4MNet plan assets, end of year
$69,672Average balance per account
Score breakdown
- Employer generosity10.8 / 5022th percentile for employer $ per participant
- Low cost2.3 / 259th percentile for low admin cost vs. same-size plans
- Employee saving5.6 / 1537th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score12 / 100 · Grade F
This plan vs. peers
Peers: Retail Trade plans with 500–2,499 active participants (719 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 22th |
| Lower admin cost | 9th |
| Employee saving | 37th |
| 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 ($280,718 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
- Miami Automotive Retail put in about $286 per active participant, below the typical peer ($743). 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 (0.83% of assets) are well above similar-size plans (0.23%). 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 | $227,317 |
| Participant (employee) contributions | $1,764,225 |
| Other contributions (incl. rollovers in) | $5,113,233 |
| Administrative expenses paid from the plan | $185,340 |
| Benefits paid out | $1,682,999 |
| Net assets, start / end of year | $8.3M / $36.4M |
| Active participants, start / end of year | 628 / 959 |
| Participants with account balances | 523 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Paast, P.L. |
Largest service providers (Schedule C)
| Global Retirement Partners, LLC | $14,530 reported compensation |
| Nationwide | $1,479 reported compensation |
| My Benefits, LLC | $530 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015170111NAL0002672771001, received 2025-10-15, EIN 65-1069312, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.