Five Below, Inc. 401(k) Review & Grade
Five Below 401(k) Retirement Savings Plan
Philadelphia, PARetail Trade13,170 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$422Employer $ per active participant
$761Employee $ saved per active participant
0.35%Direct admin cost, % of plan assets
$87.8MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity13.8 / 5028th percentile for employer $ per participant
- Low cost2.0 / 258th percentile for low admin cost vs. same-size plans
- Employee saving2.3 / 1515th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score21 / 100 · Grade F
This plan vs. peers
Peers: Retail Trade plans with 10,000+ active participants (124 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 28th |
| Lower admin cost | 8th |
| Employee saving | 15th |
| Peers that auto-enroll | 32% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Five Below put in about $422 per active participant, below the typical peer ($689). Any match is still an instant return, so contribute enough to get all of it.
- The filing shows total dollars, not the match formula. Ask HR for the Summary Plan Description so you know the exact match and vesting schedule.
- Direct plan expenses (0.35% of assets) are well above similar-size plans (0.09%). Check your annual fee disclosure, choose low-cost index funds if you can, and think about whether savings beyond the match belong in an IRA.
- Changing jobs? You can usually leave the money in the plan, move it to your new employer's plan, or roll it into an IRA. Don't cash out: you'd owe taxes and possibly a 10% penalty.
The raw numbers from the filing
| Employer contributions | $5,560,492 |
| Participant (employee) contributions | $10,023,130 |
| Other contributions (incl. rollovers in) | $3,005,047 |
| Administrative expenses paid from the plan | $277,592 |
| Contract administrator fees | $240,123 |
| Investment advisory & management fees | $37,469 |
| Benefits paid out | $12,174,709 |
| Net assets, start / end of year | $71.0M / $87.8M |
| Active participants, start / end of year | 15,588 / 10,753 |
| Participants with account balances | 2,173 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | RSM US LLP |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $240,123 reported compensation |
| NFP Retirement, Inc. | $50,000 reported compensation |
| NFP Retirement Inc | $37,469 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250729142209NAL0001394467001, received 2025-07-29, EIN 75-3000378, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.