Plan Snapshot
- Plan Sponsor: Carmax, INC.
- Sponsor EIN: 541821055
- Sponsor Address: 12800 TUCKAHOE CREEK PARKWAY, RICHMOND, VA, 23238
- Plan Type: 401(k)
- Total Participants: 29,008
- Total Assets: $1.8B
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: No
- Participant-Directed Investments: Yes
- ERISA Section 404(c) Fiduciary Safe Harbor: Yes
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 29,008 | $1.8B | $71.2M | $100.6M |
| 2023 | 29,688 | $1.5B | $68.3M | $96.9M |
| 2022 | 31,272 | $1.2B | $65.2M | $93.7M |
Service Providers (Schedule C)
Vendors paid $5,000 or more for services to the plan, ranked by total compensation (direct + indirect fees).
| Provider Name | Role | Direct Compensation | Indirect Compensation | Total Fees |
|---|---|---|---|---|
| FORVIS MAZARS, LLP | Auditor | $24,200 | — | $24,200 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- FORVIS MAZARS, LLP — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $24,200
- Estimated Expense Ratio: 0.001% of plan assets
Historical Administrative Expenses
Breakdown of administrative expense categories reported on Form 5500 filings.
| Year | Total Admin Expenses | Investment Mgmt Fees | Contract Admin Fees | IQPA Audit Fees | Professional Fees |
|---|---|---|---|---|---|
| 2024 | $1,042,836 | $17,399 | — | $24,200 | — |
| 2023 | $1,125,112 | $15,205 | — | $21,900 | — |
| 2022 | $1,034,654 | $15,178 | — | — | $31,250 |