Plan Snapshot
- Plan Sponsor: Sonic Automotive, INC.
- Sponsor EIN: 562010790
- Sponsor Address: 4401 COLWICK ROAD, CHARLOTTE, NC, 28211
- Plan Type: 401(k)
- Total Participants: 8,427
- Total Assets: $548.3M
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 | 8,427 | $548.3M | $8.2M | $35.2M |
| 2023 | 8,228 | $491.0M | $7.8M | $33.3M |
| 2022 | 7,819 | $424.4M | $8.0M | $31.0M |
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 | — | — | $0 |
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: $0
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 | $428,863 | $52,500 | $376,363 | — | — |
| 2023 | $322,902 | $70,000 | $252,902 | — | — |
| 2022 | $324,152 | $70,000 | $253,796 | — | — |