Borgman Ford Sales, Inc. 401(k) Plan: Login, Facts & Contact Information

Borgman Ford Sales, Inc. 401(k) Plan Facts

Plan name
BORGMAN FORD SALES, INC. EMPLOYEES' PROFIT SHARING AND 401(K) PLAN
Plan type
401(k) with employer contributions and profit sharing
Plan sponsor
BORGMAN FORD SALES, INC.
Participants
147 (128 active employees)
Former employees with a balance
12
Plan assets
$11,507,861 at Sep 30, 2025
Average account balance
$97,524 across 118 accounts
Employer contributions
$146,517 in plan year 2024 (15% of all contributions)
Recordkeeper
Principal Life Insurance Company
Plan year
Oct 1, 2024 – Sep 30, 2025
Plan established
Sep 26, 1966
✓ Employer contributions✓ Automatic enrollment✓ Default investment for undecided participants✓ Participants choose their own investments— Self-directed brokerage window✓ Profit sharing— Company stock (ESOP)

Source: Form 5500 for plan year 2024 (Oct 1, 2024 – Sep 30, 2025), filed Jun 18, 2026. Public filing with the U.S. Department of Labor.

Money in and out in plan year 2024

  • $990,132 went into the plan in contributions, $146,517 of it from the employer (15%).
  • $1.14 million was paid out to participants.
  • Investment and other income added $1.58 million.
  • Administrative expenses were $51,229, about $434 per account.

How the Borgman Ford Sales, Inc. 401(k) changed, 2019–2024

Plan yearParticipantsPlan assetsEmployer contributionsBenefits paid
2019130$8.91 million$87,696$491,834
2020127$11.1 million$114,191$290,522
2021129$9.37 million$136,154$402,304
2022132$8.72 million$137,546$2.59 million
2023141$10.1 million$147,272$1.61 million
2024147$11.5 million$146,517$1.14 million

Borgman Ford Sales, Inc. 401(k) Contact Information

Phone
616-534-7651
Mailing address
3150 28TH ST SW, GRANDVILLE MI 494181111
Plan sponsor
BORGMAN FORD SALES, INC.
Employer identification number (EIN)
38-1643187
Plan number
001

Questions about the Borgman Ford Sales, Inc. 401(k)

Does Borgman Ford Sales, Inc contribute to the 401(k)?

Yes. The plan reports an employer contribution arrangement. In plan year 2024 the employer contributed $146,517, 15% of all contributions.

Does the Borgman Ford Sales, Inc 401(k) have automatic enrollment?

Yes. The plan reports automatic enrollment of eligible employees.

How many people are in the Borgman Ford Sales, Inc 401(k) plan?

147 participants at the start of plan year 2024, 128 of them active employees, and 12 former employees who still had money in the plan.

What is the average 401(k) balance at Borgman Ford Sales, Inc?

About $97,524 per account: $11.5 million in plan assets across 118 accounts with a balance at the end of plan year 2024.

Who manages the Borgman Ford Sales, Inc 401(k) accounts?

Principal (listed on the filing as PRINCIPAL LIFE INSURANCE COMPANY) is the plan's recordkeeper, which is where participants log in to see their balance.

I no longer work at Borgman Ford Sales, Inc. How do I access my 401(k)?

Your account stays with Principal after you leave, so you can log in with the same credentials. If your balance was small, the plan may have rolled it into an IRA in your name. If you can't find it, Beagle can locate it for you.

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