Kravet LLC 401(k) Review & Grade
Kravet LLC 401(k) Savings and Profit Sharing Plan
Woodbury, NYWholesale Trade742 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$572Employer $ per active participant
$5,468Employee $ saved per active participant
0.29%Direct admin cost, % of plan assets
$66.1MNet plan assets, end of year
$83,002Average balance per account
Score breakdown
- Employer generosity5.1 / 5010th percentile for employer $ per participant
- Low cost10.4 / 2542th percentile for low admin cost vs. same-size plans
- Employee saving9.3 / 1562th percentile for employee $ per participant
- Plan features0 / 10No auto-enrollment or default investment reported
- Red-flag deductions-13 pts2 issues reported on the filing
Total score12 / 100 · Grade F
This plan vs. peers
Peers: Wholesale Trade plans with 500–2,499 active participants (603 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 10th |
| Lower admin cost | 42th |
| Employee saving | 62th |
| Peers that auto-enroll | 53% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($24,191 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $36,696 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Kravet put in about $572 per active participant, below the typical peer ($1,792). 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.
- Fund expense ratios aren't in the filing. Look them up in your 404(a)(5) fee disclosure and favor low-cost index or target-date funds.
- The plan reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- 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 | $424,978 |
| Participant (employee) contributions | $4,060,257 |
| Other contributions (incl. rollovers in) | $508,161 |
| Administrative expenses paid from the plan | $182,295 |
| Contract administrator fees | $182,295 |
| Benefits paid out | $5,649,098 |
| Net assets, start / end of year | $60.0M / $66.1M |
| Active participants, start / end of year | 746 / 739 |
| Participants with account balances | 796 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Baker Tilly US, LLP |
Largest service providers (Schedule C)
| Vanguard Group, Inc. | $100,402 reported compensation |
| Alliant Retirement Services | $60,626 reported compensation |
| Vaguard Advisers Inc. | $20,027 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250729130755NAL0003324897001, received 2025-07-29, EIN 11-3265273, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.