Benchmarking Tredroc Tire Services Retirement Plan in Elk Grove Village, IL against all plans
Tredroc Tire Services Retirement Plan in Elk Grove Village, IL has the 7th-highest average participant cash contribution per active participant ($3,534) of the 27 plans whose industry group is Automotive Parts, Accessories, and Tire Stores and provide for automatic enrollment. That $3,534 compares to an average of $2,858 across those 27 plans.
Beating the average of $2,858 means an extra $225,690 in participant cash contributions.
But it's still under the median of $4,835 and average of $5,509 across 1,196 plans that, like it, are in Illinois.
Note: average participant cash contribution per active participant =
cash contributions from participants ÷ active participants
Tredroc Tire Services Retirement Plan has these standings among those 27 peer plans:
Beating the average of $2,858 means an extra $225,690 in participant cash contributions.
But it's still under the median of $4,835 and average of $5,509 across 1,196 plans that, like it, are in Illinois.
Note: average participant cash contribution per active participant =
cash contributions from participants ÷ active participants
Tredroc Tire Services Retirement Plan has these standings among those 27 peer plans:
- average participant cash contribution per active participant = $3,534 (7th-highest)
- cash contributions from participants = $1,180,306 (13th-least)
- active participants = 334 (10th-fewest)
Visualize
Peers
beat out by Scosche Industries, Inc. 401(K) Profit Sharing Plan in Oxnard, CA ($6,416), Sage Parts Plus, Inc. 401(K) Savings Plan in Melville, NY ($5,182), 1A Auto, Inc. 401(K) Profit Sharing Plan & Trust in Nashua, NH ($3,940), and Weathertech Direct, LLC 401(K) Plan in Bolingbrook, IL ($3,901), and 2 others, ending with Lane Automotive Inc. Profit Sharing / 401(K) Plan in Watervliet, MI ($3,710).
beat JEG's Group Employee 401(K) Profit Sharing Plan in Delaware, OH ($3,272), Earl W. Colvard, Inc. Savings Plan in Deland, FL ($3,233), Retirement Savings Plan for Employees of Continental-Bestdrive, LLC in Fort Mill, SC ($3,146), and Weller Auto Parts 401(K) Plan in Grand Rapids, MI ($3,072), and 16 others, ending with Driven Brands, Inc. Employee Retirement Savings Plan in Charlotte, NC ($802.60).
beat JEG's Group Employee 401(K) Profit Sharing Plan in Delaware, OH ($3,272), Earl W. Colvard, Inc. Savings Plan in Deland, FL ($3,233), Retirement Savings Plan for Employees of Continental-Bestdrive, LLC in Fort Mill, SC ($3,146), and Weller Auto Parts 401(K) Plan in Grand Rapids, MI ($3,072), and 16 others, ending with Driven Brands, Inc. Employee Retirement Savings Plan in Charlotte, NC ($802.60).
References
- provide for automatic enrollment. 401(k) plan or 403(b) plan that provides for automatic enrollment in a plan that has elective contributions deducted from payroll. Feature code 2S within Line 8a of Form 5500. Except where noted, all data come from the 25-October-2023 updates to the year-2021 5500 Forms and Schedule H from the public websites at the Department of Labor, Employee Benefits Security Administration.
- whose industry group is. The industry group is the first four digits from the six-digit NAICS business code, Line 2d in Form 5500, which best describes the nature of the plan sponsor’s business, from the available list. If more than one employer or employee organization is involved, filers are asked to enter the business code for the main business activity of the employer and/or employee organizations. Except where noted, all data come from the 25-October-2023 updates to the year-2021 5500 Forms and Schedule H from the public websites at the Department of Labor, Employee Benefits Security Administration.
- average participant cash contribution per active participant. Higher values are better. Average participant cash contribution per active participant equals cash contributions from participants, Line 2a(1)(B) from Schedule H, divided by active participants at the end of the plan year, Line 6a(2), Form 5500. Except where noted, all data come from the 25-October-2023 updates to the year-2021 5500 Forms and Schedule H from the public websites at the Department of Labor, Employee Benefits Security Administration.