Premium Velocity Auto, LLC 401(k) Review & Grade
Premium Velocity Auto, LLC Retirement Plan
Spring, TXOther Services1,996 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$271Employer $ per active participant
$422Employee $ saved per active participant
0.14%Direct admin cost, % of plan assets
$5.6MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity10.2 / 5020th percentile for employer $ per participant
- Low cost16.5 / 2566th percentile for low admin cost vs. same-size plans
- Employee saving1.4 / 159th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-5 pts1 issue reported on the filing
Total score26 / 100 · Grade F
This plan vs. peers
Peers: Other Services plans with 500–2,499 active participants (333 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 20th |
| Lower admin cost | 66th |
| Employee saving | 9th |
| Peers that auto-enroll | 40% |
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Red flags from the filing
Auditor disclaimer: the auditor issued a disclaimer of opinion.
What to do if you're in this plan
- Premium Velocity Auto put in about $271 per active participant, below the typical peer ($1,257). 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 | $540,578 |
| Participant (employee) contributions | $842,321 |
| Other contributions (incl. rollovers in) | – |
| Administrative expenses paid from the plan | $6,772 |
| Contract administrator fees | $6,772 |
| Benefits paid out | $609,562 |
| Net assets, start / end of year | $4.2M / $5.6M |
| Active participants, start / end of year | 2,093 / 1,899 |
| Participants with account balances | 322 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Harper and Pearson |
Largest service providers (Schedule C)
| The Vanguard Group, Inc. | $6,645 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250815153728NAL0010613473001, received 2025-08-15, EIN 83-3555551, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.