Spectrum Automotive Holdings Corp. 401(k) Review & Grade
Spectrum Automotive Holdings Corp. 401(k) Savings Plan
Fairfield, NJFinance & Insurance750 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,492Employer $ per active participant
$5,072Employee $ saved per active participant
0.40%Direct admin cost, % of plan assets
$35.3MNet plan assets, end of year
$49,369Average balance per account
Score breakdown
- Employer generosity6.9 / 5014th percentile for employer $ per participant
- Low cost7.6 / 2530th percentile for low admin cost vs. same-size plans
- Employee saving3.6 / 1524th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score18 / 100 · Grade F
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 14th |
| Lower admin cost | 30th |
| Employee saving | 24th |
| Peers that auto-enroll | 62% |
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
Benefits not paid when due: the plan reported failing to pay some benefits on time.
What to do if you're in this plan
- Spectrum Automotive Holdings put in about $1,492 per active participant, below the typical peer ($3,606). 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 (0.40% 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.
- 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 | $1,119,500 |
| Participant (employee) contributions | $3,806,812 |
| Other contributions (incl. rollovers in) | $1,467,918 |
| Administrative expenses paid from the plan | $125,753 |
| Investment advisory & management fees | $7,485 |
| Benefits paid out | $2,811,174 |
| Net assets, start / end of year | $27.2M / $35.3M |
| Active participants, start / end of year | 653 / 848 |
| Participants with account balances | 715 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | PKF O'connor Davies LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $29,154 reported compensation |
| Onedigital Investment Advisors LLC | $7,375 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015111332NAL0005898832001, received 2025-10-15, EIN 47-4583638, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.