Fleet Feet, Incorporated 401(k) Review & Grade
Fleet Feet, Inc. 401(k) Plan
Carrboro, NCRetail Trade1,167 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$874Employer $ per active participant
$1,445Employee $ saved per active participant
0.68%Direct admin cost, % of plan assets
$10.6MNet plan assets, end of year
$7,684Average balance per account
Score breakdown
- Employer generosity28.0 / 5056th percentile for employer $ per participant
- Low cost3.4 / 2514th percentile for low admin cost vs. same-size plans
- Employee saving3.5 / 1523th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score28 / 100 · Grade F
This plan vs. peers
Peers: Retail Trade plans with 500–2,499 active participants (719 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 56th |
| Lower admin cost | 14th |
| Employee saving | 23th |
| Peers that auto-enroll | 48% |
Get the monthly 401(k) report card
The best and worst plans, new grades as filings post. One email a month, no spam.
Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($724 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- Fleet Feet, Incorporated put in about $874 per active participant, more than the typical peer ($743). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- 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.
- Direct plan expenses (0.68% of assets) are well above similar-size plans (0.23%). Check your annual fee disclosure, choose low-cost index funds if you can, and think about whether savings beyond the match belong in an IRA.
- The plan reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- 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 | $1,020,247 |
| Participant (employee) contributions | $1,686,267 |
| Other contributions (incl. rollovers in) | $466,394 |
| Administrative expenses paid from the plan | $60,817 |
| Contract administrator fees | $17,944 |
| Investment advisory & management fees | $42,873 |
| Benefits paid out | $879,508 |
| Net assets, start / end of year | $7.2M / $10.6M |
| Active participants, start / end of year | 1,167 / 1,167 |
| Participants with account balances | 1,377 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Elliott Group Cpas, PLLC |
Largest service providers (Schedule C)
| Mma Securities, LLC | $42,873 reported compensation |
| The Vanguard Group, Inc. | $17,944 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250915082010NAL0000584147001, received 2025-09-15, EIN 02-0656285, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.