Retirement plan

GARCIA DEALERSHIPS 401(K) PROFIT SHARING PLAN

Name: GARCIA IMPORTS, INC. DBA GARCIA HONDA - GARCIA DEALERSHIPS 401(K) PROFIT SHARING PLAN (2024) Form 5500
Creator: GARCIA IMPORTS, INC. DBA GARCIA HONDA
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, GARCIA DEALERSHIPS 401(K) PROFIT SHARING PLAN, GARCIA IMPORTS, INC. DBA GARCIA HONDA

GARCIA IMPORTS, INC. DBA GARCIA HONDAEIN 85-0199988Plan #002PY 2024

ROSE GIBSON, P.O. BOX 26207 - ALBUQUERQUE, NM 87125505-260-5000LinkedIn201-500 employeesretail

Prospect flagsLow participationFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$8.6M

+16.7% from 2023

Total participants

238

-7.8% from 2023

Average account balance

$80,657

+36.4% from 2023

Annual return

13.68%

-1.97 pp from 2023

Benchmarks

See 2,310 peers

Peer group

Industry44 - Retail Trade

Plan typeDefined contribution

Participants100-249

Cohort2,310 peers

Snapshot2024

Free accounts unlock saves, downloads, and 3-year history.

Analytics

Total assets (EOY)

Plan-year ending balance

$8.63M

Not enough data

1 years with asset history on file

Average account balance

Total assets / participants with a balance (line 6g)

$81K

Not enough data

1 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

107

Not enough data

1 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

37.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$570K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

Not enough data

1 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+13.68%

Not enough data

1 years with return on file

Admin fee / account holder

Total admin expenses / participants with a balance (line 6g)

$253

Not enough data

1 years with admin cost on file

Asset composition

Cash / stocks / bonds / mutual funds / real estate / loans over time

Not enough data

1 years with F_SCH_H allocation on file

Free accounts unlock saves, downloads, and 3-year history.

Service providers

Top 2 by compensation

Provider	Service type	Compensation
SENTINEL PENSION ADVISORS1 year Filed as: SENTINEL BENEFITS GROUP, LLC Service code 15 · EIN 20-5916766	Recordkeeping	$16,942
REDW STANLEY FINANCIAL ADVISORS LLC6 years Filed as: REDW WEALTH LLC Service code 26 · EIN 85-0467977	Advisory (Participants)	$8,834

Plan features & details

Pension benefit codes2E2F2G2J2K3D3H

Plan features

2E
Profit-sharing
Profit-sharing plan.
2F
ERISA section 404(c) plan
This plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
2G
Total participant-directed account plan
Participants have the opportunity to direct the investment of all of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2J
Code section 401(k) feature
Cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan under which employees may elect to defer part of their compensation or receive these amounts in cash.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
3D
Pre-approved pension plan
A master prototype or volume submitter plan that is the subject of a favorable opinion or advisory letter from the IRS.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

3 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$27K

$129 / participant

Recordkeeping$17K62.5%
Trustee / custodial$1K4.5%
Investment mgmt$9K32.6%
Other / not subdivided$850.3%

% of EOY assets

0.314%

all-in expense ratio

Categories reported

3 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: BAKER TILLY US, LLP
Auditor EIN: 301413443
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$80,657

$59,448+35.7%

$93,696-13.9%

$74,459+8.3%

Participation rate

37.3%

59.6%-22.3pp

68.7%-31.4pp

67.2%-29.9pp

Annual return

13.68%

82.11%-68.4pp

133.74%-120.1pp

1369.70%-1356.0pp

Employer contribution / active EE

$494

$1,266-61.0%

$2,422-79.6%

$2,626-81.2%

Participant deferral / active EE

$2,234

$3,052-26.8%

$4,417-49.4%

$4,350-48.6%

Admin fee / account holder

$253

$3,027-91.6%

$8,287-96.9%

$1,945-87.0%

Provider

Service type

Compensation

SENTINEL PENSION ADVISORS1 year

Filed as: SENTINEL BENEFITS GROUP, LLC

Service code 15 · EIN 20-5916766

Recordkeeping

$16,942

REDW STANLEY FINANCIAL ADVISORS LLC6 years

Filed as: REDW WEALTH LLC

Service code 26 · EIN 85-0467977

Advisory (Participants)

$8,834

GARCIA DEALERSHIPS 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

GARCIA DEALERSHIPS 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion