Industry · Form 5500 business code 441120
Used Car Dealers: retirement plans
Plans whose sponsor entered this principal business activity code on Form 5500.
Form 5500 information is as filed by the plan administrator with the Department of Labor and may be amended. Figures reflect the plan year shown, not current balances. The business code is chosen by the filer from the list in the Form 5500 instructions.
34 retirement plans in used car dealers with 100 or more participants filed Form 5500 for plan year 2024 (32 defined contribution, 2 defined benefit). All Form 5500 pension filers in the group reported 87,245 participant records and $2.87B in net assets.
The median defined contribution plan held $25,398 per participant, well below the national median of $53,031, and its employer put in $1,226 per active participant (national: $2,174). Among plans reporting Schedule C compensation the median was $140 per participant against $123 nationally.
Employers contributed $101M and participants $190M during the year, and the plans paid out $294M in benefits.
In 2009 the same group numbered 23 plans with $219M; by 2024 it was 34 plans (up 48%) and $2.87B (up 1209%). From plan year 2023 the 100-participant line counts participants with account balances, which moved many plans to the short form.
Medians compared with all US plans
| Median plan, plan year 2024 | Industry: DC | US: DC | Industry: DB | US: DB |
|---|---|---|---|---|
| Net assets per participant | $25,398 | $53,031 | $22,297 | $86,234 |
| Employer contributions per active participant | $1,226 | $2,174 | $2,193 | $10,244 |
| Schedule C compensation per participant | $140 | $123 | $144 | $344 |
| Schedule C compensation, share of net assets | 0.45% | 0.26% | 0.70% | 0.42% |
| Administrative expenses per participant | $113 | $116 | $461 | $527 |
Medians across plans with 100 or more participants (32 DC and 2 DB plans with a Schedule H here). Fee medians cover plans reporting an amount. DC: defined contribution, such as 401(k) and 403(b). DB: defined benefit pension.
Distribution of DC plans
| Measure | 25th percentile | Median | 75th percentile | Plans |
|---|---|---|---|---|
| Net assets per participant | $14,230 | $25,398 | $45,453 | 32 |
| Employer contributions per active participant | $490 | $1,226 | $2,036 | 28 |
| Schedule C compensation per participant | $42.38 | $140 | $191 | 31 |
| Administrative expenses per participant | $37.91 | $113 | $177 | 31 |
Trend by plan year
| Plan year | Plans 100+ | Participants | Net assets | Employer contributions | Participant contributions | Median DC assets / participant | Median DC Sch. C / participant |
|---|---|---|---|---|---|---|---|
| 2024 | 34 | 87,245 | $2.87B | $101M | $190M | $25,398 | $140 |
| 2023 | 38 | 84,070 | $2.50B | $96.9M | $186M | $23,037 | $106 |
| 2022 | 53 | 86,595 | $2.04B | $94.2M | $191M | $18,058 | $74.15 |
| 2021 | 47 | 92,035 | $2.25B | $80.8M | $160M | $19,799 | $62.98 |
| 2020 | 47 | 74,107 | $1.87B | $65.4M | $118M | $17,846 | $57.77 |
| 2019 | 44 | 70,918 | $1.59B | $62.7M | $107M | $15,972 | $47.74 |
| 2018 | 42 | 65,260 | $1.23B | $54.0M | $104M | $15,751 | $44.54 |
| 2017 | 37 | 62,795 | $1.27B | $59.7M | $88.8M | $19,972 | $29.10 |
| 2016 | 33 | 56,226 | $1000M | $47.0M | $70.9M | $17,238 | $20.39 |
| 2015 | 35 | 29,206 | $427M | $9.9M | $26.4M | $16,154 | $19.92 |
| 2014 | 34 | 26,827 | $427M | $9.6M | $21.3M | $19,142 | $35.03 |
| 2013 | 28 | 23,922 | $352M | $9.4M | $15.9M | $16,541 | $29.01 |
| 2012 | 27 | 22,676 | $276M | $6.3M | $12.6M | $14,595 | $33.77 |
| 2011 | 25 | 21,274 | $255M | $11.4M | $12.0M | $11,489 | $50.37 |
| 2010 | 23 | 21,440 | $248M | $8.8M | $9.9M | $13,194 | $38.83 |
| 2009 | 23 | 22,537 | $219M | $6.2M | $9.6M | $11,665 | $61.45 |
Plan year is the year in which the plan year began. The drop in large plans from 2023 follows a rule change: the 100-participant line now counts participants with account balances, so many plans moved to the short form.
Provider share
Service provider organisations named most often on the Schedule C of the 35 plans on this page's list, by number of plans. A plan usually names several providers.
Largest plans
The 35 largest by participants of 35 plans with a page on this site.
| Plan | Sponsor | State | Type | Participants | Net assets | Per participant | Employer / active | Sch. C / participant |
|---|---|---|---|---|---|---|---|---|
| Carmax, Inc. Retirement Savings Plan | Carmax, Inc. | VA | DC | 33,911 | $1.81B | $53,459 | $2,455 | $30.75 |
| Carvana, LLC 401(k) Plan | Carvana, LLC | AZ | DC | 19,211 | $267M | $13,904 | $469 | $26.89 |
| Carmax, Inc. Pension Plan | Carmax, Inc. | VA | DB | 7,046 | $199M | $28,237 | — | $142 |
| Drivetime 401(k) Plan | Drivetime Automotive Group Inc. | AZ | DC | 5,974 | $199M | $33,229 | $1,559 | $53.48 |
| Aaag Holdings, Inc. 401(k) Plan | Aaag Holdings, Inc. | IN | DC | 3,013 | $14.1M | $4,668 | $4 | $5.16 |
| Flow Companies 401(k) Retirement Plan | Flow Companies, LLC | NC | DC | 2,701 | $39.1M | $14,480 | $236 | $31.86 |
| America's Car Mart, Inc. 401(k) Plan | Americas Car Mart, Inc. | AR | DC | 2,569 | $24.9M | $9,692 | $497 | $26.42 |
| City Enterprises, LLC 401(k) Plan | City Enterprises, LLC | TN | DC | 1,331 | $19.1M | $14,339 | $1,146 | $63.85 |
| Sullivan Automotive Group 401(k) Retirement Plan | Sullivan Automotive Group LLC | CA | DC | 1,295 | $30.0M | $23,180 | $370 | $39.23 |
| Local 6559 Pension Fund | Local 6559 Pension Fund | NY | DB | 908 | $14.9M | $16,356 | $2,193 | $145 |
| Van Horn Automotive Group 401(k) Plan | Van Horn Automotive Group, Inc. | WI | DC | 800 | $27.0M | $33,767 | — | $240 |
| H Greg 401(k) Plan | H Gregory 1 Inc. | FL | DC | 797 | $5.1M | $6,360 | — | $116 |
| Van Horn Automotive Group, Inc. Employee Stock Ownership Plan | Van Horn Automotive Group, Inc. | WI | DC | 665 | $31.7M | $47,656 | $8,142 | $359 |
| Frank Leta Holding Co. 401(k) Plan | Frank Leta Holding Co. | MO | DC | 516 | $10.4M | $20,149 | $401 | $34.42 |
| Vroom 401(k) Plan | Vroom Inc. | CA | DC | 457 | $11.7M | $25,493 | — | $188 |
| Auto Lenders Liquidation Center, Inc. 401(k) Plan | Auto Lenders Liquidation Center, Inc. | NJ | DC | 442 | $22.0M | $49,744 | — | $208 |
| Ro-Zap Enterprises, Inc. Profit Sharing 401(k) Plan | Ro-Zap Enterprises, Inc. | NY | DC | 413 | $16.3M | $39,391 | $2,024 | $174 |
| Castle Auto Group 401(k) Plan | Castle Chevrolet, Inc. | IL | DC | 410 | $7.3M | $17,866 | $1,223 | $121 |
| Autosavvy Retirement 401(k) | Autosavvy Holdings, Inc. | UT | DC | 379 | $4.6M | $12,151 | $1,228 | $94.87 |
| Mei Group 401(k) Plan | Mei Group LLC | TX | DC | 365 | $3.6M | $9,959 | $2,029 | $152 |
| ST George Auto Sales Inc. 401(k) Profit Sharing Plan & Trust | ST George Auto Sales Inc. | CA | DC | 351 | $1.3M | $3,687 | $0 | — |
| Sac Finance, Inc. 401(k) Plan | Sac Finance, Inc. | IN | DC | 336 | $8.6M | $25,518 | $345 | $194 |
| Overland West, Inc. 401(k) Profit Sharing Plan | Overland West, Inc. | UT | DC | 320 | $36.6M | $114,463 | $2,528 | $318 |
| Sabmd LLC 401(k) | Sabmd LLC | VA | DC | 261 | $6.3M | $24,077 | $1,627 | $61.20 |
| Syserco, Inc. Salary Deferral Plan | Syserco, Inc. | TX | DC | 249 | $27.4M | $110,230 | $4,159 | $189 |
| Buckeye Automotive Family 401(k) Retirement Plan | Buckeye Honda | OH | DC | 246 | $11.6M | $47,168 | $824 | $468 |
| Interstate Auto Group, Inc. 401(k) Profit Sharing Plan | Interstate Auto Group, Inc. | NE | DC | 240 | $12.7M | $52,974 | $783 | $286 |
| Express Credit Auto Savings Incentive Plan | Express Credit Auto, LLC. | OK | DC | 188 | $9.7M | $51,704 | $1,679 | $323 |
| Easy Auto 401(k) Plan | Easy Auto, Inc. | TN | DC | 171 | $14.6M | $85,350 | $2,114 | $176 |
| J S Ventura Inc. | JS Ventura Inc. | CA | DC | 168 | $1.5M | $8,967 | — | $47.45 |
| Barrett-Jackson 401(k) Plan | Barrett-Jackson Auction Company, L.L.C. | AZ | DC | 167 | $5.6M | $33,444 | $2,584 | $428 |
| Pearson Ford, Inc. 401(k) Plan | Pearson Ford, Inc. | IN | DC | 136 | $2.1M | $15,534 | $505 | $151 |
| Regal Motor Company 401(k) Profit Sharing Plan | Regal Car Sales and Credit, LLC | OK | DC | 130 | $7.8M | $59,644 | $2,056 | $17.31 |
| QC Auto Sales, Inc. 401(k) Profit Sharing Plan | QC Auto Sales Inc. DBA Byrider | IA | DC | 104 | $3.3M | $32,139 | $1,577 | $183 |
| Perkins Motor Plex LLC Safe Harbor 401(k) Plan | Perkins Motor Plex LLC | KY | DC | 102 | — | — | — | — |
By plan size
By state
Questions and answers
How many retirement plans are there in used car dealers?
34 plans with 100 or more participants filed Form 5500 for plan year 2024, out of 86 pension plans on the full form. Smaller plans file Form 5500-SF and are counted separately where shown.
What is the typical 401(k) balance in used car dealers?
The median defined contribution plan reported $25,398 in net assets per participant (middle half of plans: $14,230 to $45,453); nationally it was $53,031. This is a plan-level average that includes former employees, not a typical person's balance.
What do employers contribute in used car dealers?
The median defined contribution plan received $1,226 in employer contributions per active participant, against $2,174 nationally. Plans with no employer contribution are included at zero.
What are average 401(k) fees in used car dealers?
Among defined contribution plans that report any Schedule C compensation, the median was $140 per participant and 0.45% of net assets (nationally $123 and 0.26%). Schedule C leaves out fund expense ratios and fees the employer pays, so it understates total cost.
Where does this come from?
Form 5500 annual reports in the EBSA research files, with filings received through 24 Aug 2026. Medians are computed by this site across plans with 100 or more participants.
Provenance
Source: U.S. Department of Labor, Employee Benefits Security Administration, Form 5500 research files, public domain, with filings received through 24 Aug 2026. Totals count every pension plan on the full form; medians and the plan list cover plans with 100 or more participants. See the methodology.