The Pete Store, LLC 401(k) Review & Grade
The Pete Store, LLC 401(k) Plan
Baltimore, MDRetail Trade970 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$750Employer $ per active participant
$3,449Employee $ saved per active participant
0.26%Direct admin cost, % of plan assets
$35.6MNet plan assets, end of year
$55,911Average balance per account
Score breakdown
- Employer generosity25.3 / 5051th percentile for employer $ per participant
- Low cost11.3 / 2545th percentile for low admin cost vs. same-size plans
- Employee saving8.8 / 1558th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score45 / 100 · Grade C
This plan vs. peers
Peers: Retail Trade plans with 500–2,499 active participants (719 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 51th |
| Lower admin cost | 45th |
| Employee saving | 58th |
| Peers that auto-enroll | 48% |
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Red flags from the filing
Corrective distributions: the plan refunded $64,335 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Pete Store put in about $750 per active participant, more than the typical peer ($743). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- 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 | $726,827 |
| Participant (employee) contributions | $3,343,968 |
| Other contributions (incl. rollovers in) | $954,500 |
| Administrative expenses paid from the plan | $85,554 |
| Contract administrator fees | $66,321 |
| Investment advisory & management fees | $15,033 |
| Other admin expenses | $4,200 |
| Benefits paid out | $2,086,119 |
| Net assets, start / end of year | $29.1M / $35.6M |
| Active participants, start / end of year | 937 / 1,002 |
| Participants with account balances | 636 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Councilor, Buchanan & Mitchell |
Largest service providers (Schedule C)
| Wealth Enhancement Advisory | $34,033 reported compensation |
| John Hancock Life Insurance Company | $12,148 reported compensation |
| American Retirement Plan SVC, LLC | $6,768 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014103227NAL0003671056001, received 2025-10-14, EIN 26-4607022, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.