Movado Group, Inc. 401(k) Review & Grade
Movado Group, Inc. Savings and Investment Plan
Paramus, NJWholesale Trade928 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,545Employer $ per active participant
$5,348Employee $ saved per active participant
0.22%Direct admin cost, % of plan assets
$112.4MNet plan assets, end of year
$89,388Average balance per account
Score breakdown
- Employer generosity20.8 / 5042th percentile for employer $ per participant
- Low cost13.0 / 2552th percentile for low admin cost vs. same-size plans
- Employee saving9.1 / 1561th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score50 / 100 · Grade C
This plan vs. peers
Peers: Wholesale Trade plans with 500–2,499 active participants (603 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 42th |
| Lower admin cost | 52th |
| Employee saving | 61th |
| Peers that auto-enroll | 53% |
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Red flags from the filing
Corrective distributions: the plan refunded $147,714 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Movado Group put in about $1,545 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 auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- 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 | $1,434,758 |
| Participant (employee) contributions | $4,965,440 |
| Other contributions (incl. rollovers in) | $194,632 |
| Administrative expenses paid from the plan | $233,129 |
| Investment advisory & management fees | $32,033 |
| Other admin expenses | $76,730 |
| Benefits paid out | $13,599,349 |
| Net assets, start / end of year | $103.8M / $112.4M |
| Active participants, start / end of year | 884 / 973 |
| Participants with account balances | 1,258 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Cohnreznick LLP |
| Employer stock held by plan | $260,221 |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $124,366 reported compensation |
| Strategic Advisors, Inc. | $32,033 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013090254NAL0000421507001, received 2025-10-13, EIN 13-2595932, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.