Serra Automotive, Inc. 401(k) Review & Grade
Serra Automotive 401(k) Plan & Trust
Fenton, MIProfessional, Scientific & Technical Services2,882 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$723Employer $ per active participant
$4,566Employee $ saved per active participant
0.31%Direct admin cost, % of plan assets
$150.6MNet plan assets, end of year
$73,533Average balance per account
Score breakdown
- Employer generosity9.3 / 5019th percentile for employer $ per participant
- Low cost5.4 / 2522th percentile for low admin cost vs. same-size plans
- Employee saving3.7 / 1524th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score21 / 100 · Grade F
This plan vs. peers
Peers: Professional, Scientific & Technical Services plans with 2,500–9,999 active participants (231 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 19th |
| Lower admin cost | 22th |
| Employee saving | 24th |
| Peers that auto-enroll | 47% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Serra Automotive put in about $723 per active participant, below the typical peer ($2,951). 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 (0.31% 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.
- 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 | $2,084,815 |
| Participant (employee) contributions | $13,162,275 |
| Other contributions (incl. rollovers in) | $12,978,267 |
| Administrative expenses paid from the plan | $417,301 |
| Investment advisory & management fees | $256,735 |
| Benefits paid out | $11,666,513 |
| Net assets, start / end of year | $117.6M / $150.6M |
| Active participants, start / end of year | 2,775 / 2,990 |
| Participants with account balances | 2,048 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Crowe LLP |
Largest service providers (Schedule C)
| Captrust Investment Advisors | $256,736 reported compensation |
| Milliman | $160,566 reported compensation |
| Charles Schwab Trust Bank | $26,078 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250924145209NAL0009363843001, received 2025-09-24, EIN 38-2407959, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.