Partssource, Inc. 401(k) Review & Grade
Partssource 401(k) Plan
Hudson, OHWholesale Trade516 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,632Employer $ per active participant
$7,829Employee $ saved per active participant
0.43%Direct admin cost, % of plan assets
$39.0MNet plan assets, end of year
$58,083Average balance per account
Score breakdown
- Employer generosity22.7 / 5045th percentile for employer $ per participant
- Low cost6.9 / 2528th percentile for low admin cost vs. same-size plans
- Employee saving12.8 / 1586th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score39 / 100 · Grade D
This plan vs. peers
Peers: Wholesale Trade plans with 500–2,499 active participants (603 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 45th |
| Lower admin cost | 28th |
| Employee saving | 86th |
| Peers that auto-enroll | 53% |
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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 ($133,479 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $4,252 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Partssource put in about $1,632 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.
- Direct plan expenses (0.43% 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 auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- 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 | $841,405 |
| Participant (employee) contributions | $4,035,818 |
| Other contributions (incl. rollovers in) | $1,129,616 |
| Administrative expenses paid from the plan | $149,723 |
| Investment advisory & management fees | $57,964 |
| Other admin expenses | $5,845 |
| Benefits paid out | $2,115,797 |
| Net assets, start / end of year | $30.2M / $39.0M |
| Active participants, start / end of year | 510 / 521 |
| Participants with account balances | 672 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Sikich CPA LLC |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $69,914 reported compensation |
| Kestra Investment Services LLC | $57,964 reported compensation |
| Rea & Associates | $10,345 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250707134524NAL0005405648001, received 2025-07-07, EIN 34-1945164, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.