Shoe Show, Inc. 401(k) Review & Grade
Shoe Show Retirement Savings Plan
Concord, NCRetail Trade2,813 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$320Employer $ per active participant
$1,062Employee $ saved per active participant
$0 reportedDirect admin cost, % of plan assets
$48.8MNet plan assets, end of year
$33,700Average balance per account
Score breakdown
- Employer generosity11.8 / 5024th percentile for employer $ per participant
- Low cost12.5 / 25No direct expenses reported, scored neutral
- Employee saving3.4 / 1523th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score28 / 100 · Grade F
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 | neutral |
| Employee saving | 23th |
| Peers that auto-enroll | 42% |
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Red flags from the filing
Corrective distributions: the plan refunded $376,514 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Shoe Show put in about $320 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.
- The plan reported no administrative expenses paid from plan assets. The employer may pay them, or the costs may be built into fund fees. Check your 404(a)(5) fee disclosure for each fund's expense ratio.
- 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 | $899,113 |
| Participant (employee) contributions | $2,987,425 |
| Other contributions (incl. rollovers in) | $46,804 |
| Administrative expenses paid from the plan | $0 |
| Benefits paid out | $6,736,440 |
| Net assets, start / end of year | $47.2M / $48.8M |
| Active participants, start / end of year | 2,471 / 3,155 |
| Participants with account balances | 1,447 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | RSM US LLP |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company | $94,927 reported compensation |
| LPL Financial | $80,138 reported compensation |
| LPL Financial LLC | $70,187 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015135823NAL0005056737001, received 2025-10-15, EIN 56-0848427, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.