Fitzpatrick Dealership Group 401(k) Plan and Trust

• Compliance

  Failed to transmit contributions

  Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

  Schedule H, line 4a
• Compliance

  Corrective distributions

  Plan reported corrective distributions (failed ADP/ACP testing).

  Schedule H, line 2g
• Opportunity

  Low returns

  Annual investment return is in the bottom quintile of the peer cohort.

  Schedule H, line 2
• Opportunity

  Possible retail share class: $7.4M

  Mutual funds in a class the filing names that is often retail or revenue sharing. Confirm before you raise it.

  Schedule H, line 4i
• Opportunity

  Few collective trusts

  0% of fund dollars in collective trusts, which often cost less than the same strategy as a mutual fund.

  Schedule H, line 4i
• Informational

  Recently reached 100 employees

  Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.

  Line 6g

Industry

44 - Retail Trade

Plan type

Defined contribution

Participants

100-249

Cohort

2,268 peers

Snapshot

2025

Target-date series: American Funds Target Date, mutual fund, 56% of fund dollars

Covers 71,410 large plans that list their funds in their annual filing. Updated Nov 6, 2026. Shares describe these plans, not the whole market.

• 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.
• 2T
  Default investment account

  Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
• 3B
  Plan covering self-employed individuals

  Plan covering self-employed individuals.
• 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)).