Shoe Carnival, Inc. 401(k) Review & Grade
Shoe Carnival, Inc. Retirement Savings Plan
Evansville, INRetail Trade3,105 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$327Employer $ per active participant
$1,115Employee $ saved per active participant
0.07%Direct admin cost, % of plan assets
$76.1MNet plan assets, end of year
$47,900Average balance per account
Score breakdown
- Employer generosity12.1 / 5024th percentile for employer $ per participant
- Low cost17.5 / 2570th percentile for low admin cost vs. same-size plans
- Employee saving3.8 / 1525th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score33 / 100 · Grade D
This plan vs. peers
Peers: Retail Trade plans with 2,500–9,999 active participants (183 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 24th |
| Lower admin cost | 70th |
| Employee saving | 25th |
| Peers that auto-enroll | 42% |
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Red flags from the filing
Corrective distributions: the plan refunded $55,520 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Shoe Carnival put in about $327 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.
- 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 | $1,014,067 |
| Participant (employee) contributions | $3,462,750 |
| Other contributions (incl. rollovers in) | $1,179,128 |
| Administrative expenses paid from the plan | $43,440 |
| Contract administrator fees | $43,440 |
| Benefits paid out | $9,390,987 |
| Net assets, start / end of year | $55.3M / $76.1M |
| Active participants, start / end of year | 3,150 / 3,060 |
| Participants with account balances | 1,589 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Harding, Shymanski & Company, PSC |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $43,439 reported compensation |
| W Enterprises Inc | $2,869 reported compensation |
| Osaic Wealth Inc | $1,913 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251010182507NAL0013092864001, received 2025-10-10, EIN 35-1736614, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.