Plan Snapshot
- Plan Sponsor: Mcgrath Automotive Group, INC.
- Sponsor EIN: 421035653
- Sponsor Address: 1600 51ST ST NE, CEDAR RAPIDS, IA, 524022447
- Plan Type: 401(k)
- Total Participants: 663
- Total Assets: $49.6M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: Yes
- Participant Loans: Yes
- 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 | 663 | $49.6M | $999,477 | $2.8M |
| 2023 | 614 | $45.4M | $1.1M | $2.8M |
| 2022 | 619 | $37.9M | $1.0M | $2.7M |
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 |
|---|---|---|---|---|
| PRINCIPAL LIFE INSURANCE COMPANY | CONTRACT ADMINISTRATOR | $179,510 | — | $179,510 |
| COMMONWEALTH FINANCIAL NETWORK | INVESTMENT ADVISORY | — | $78,589 | $78,589 |
| BGHN ASSOCIATES, P.C. | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- COMMONWEALTH FINANCIAL NETWORK — INVESTMENT ADVISORY
- BGHN ASSOCIATES, P.C. — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $258,099
- Estimated Expense Ratio: 0.521% 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 | $179,510 | — | $179,510 | — | — |
| 2023 | $153,077 | — | $153,077 | — | — |
| 2022 | $155,634 | — | $155,634 | — | — |