Belk Stores Services, LLC 401(k) Review & Grade
Belk 401k Savings Plan
Charlotte, NCRetail Trade19,533 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$507Employer $ per active participant
$834Employee $ saved per active participant
0.11%Direct admin cost, % of plan assets
$400.6MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity18.7 / 5037th percentile for employer $ per participant
- Low cost10.3 / 2541th percentile for low admin cost vs. same-size plans
- Employee saving2.8 / 1519th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score35 / 100 · Grade D
This plan vs. peers
Peers: Retail Trade plans with 10,000+ active participants (124 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 37th |
| Lower admin cost | 41th |
| Employee saving | 19th |
| Peers that auto-enroll | 32% |
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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
- Belk Stores Services put in about $507 per active participant, below the typical peer ($689). 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 | $9,898,795 |
| Participant (employee) contributions | $16,286,698 |
| Other contributions (incl. rollovers in) | $1,603,153 |
| Administrative expenses paid from the plan | $420,760 |
| Investment advisory & management fees | $420,760 |
| Benefits paid out | $48,168,497 |
| Net assets, start / end of year | $379.5M / $400.6M |
| Active participants, start / end of year | 20,210 / 18,856 |
| Participants with account balances | 6,648 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Forvis Mazars, LLP |
Largest service providers (Schedule C)
| Schwab Retirement Plan Services Inc | $420,610 reported compensation |
| Signaturefd LLC | $13,296 reported compensation |
| Charles Schwab & Co., Inc. | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251125162216NAL0001772227002, received 2025-11-25, EIN 56-0616731, plan #333, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.