Saks Global Enterprises LLC 401(k) Review & Grade
HBC 401(k) Retirement Savings Plan
New York, NYRetail Trade5,997 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$400Employer $ per active participant
$3,371Employee $ saved per active participant
0.15%Direct admin cost, % of plan assets
$534.5MNet plan assets, end of year
$56,198Average balance per account
Score breakdown
- Employer generosity15.1 / 5030th percentile for employer $ per participant
- Low cost10.7 / 2543th percentile for low admin cost vs. same-size plans
- Employee saving10.7 / 1571th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score47 / 100 · Grade C
This plan vs. peers
Peers: Retail Trade plans with 2,500–9,999 active participants (183 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 30th |
| Lower admin cost | 43th |
| Employee saving | 71th |
| Peers that auto-enroll | 42% |
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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
- Saks Global Enterprises put in about $400 per active participant, below the typical peer ($650). 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 | $2,398,903 |
| Participant (employee) contributions | $20,214,902 |
| Other contributions (incl. rollovers in) | $776,377 |
| Administrative expenses paid from the plan | $811,776 |
| Other admin expenses | $811,776 |
| Benefits paid out | $70,928,050 |
| Net assets, start / end of year | $526.6M / $534.5M |
| Active participants, start / end of year | 6,367 / 5,627 |
| Participants with account balances | 9,511 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Deloitte & Touche LLP |
Largest service providers (Schedule C)
| Merrill Lynch, Pierce, Fenner and S | $422,107 reported compensation |
| Saks & Company LLC | $200,298 reported compensation |
| Mercer Investments LLC | $100,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013144700NAL0002225024001, received 2025-10-13, EIN 99-0372181, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.