Jo-Ann Stores, LLC 401(k) Review & Grade
Jo-Ann Stores, LLC 401(k) Savings Plan
Hudson, OHRetail Trade19,384 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$55Employer $ per active participant
$381Employee $ saved per active participant
0.13%Direct admin cost, % of plan assets
$182.5MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity0.8 / 502th percentile for employer $ per participant
- Low cost8.0 / 2532th percentile for low admin cost vs. same-size plans
- Employee saving0.7 / 155th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score10 / 100 · Grade F
This plan vs. peers
Peers: Retail Trade plans with 10,000+ active participants (124 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 2th |
| Lower admin cost | 32th |
| Employee saving | 5th |
| Peers that auto-enroll | 32% |
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Red flags from the filing
Corrective distributions: the plan refunded $38,304 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Jo-Ann Stores put in about $55 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.
- Direct plan expenses (0.13% of assets) are well above similar-size plans (0.09%). 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.
- 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 | $1,059,647 |
| Participant (employee) contributions | $7,392,278 |
| Other contributions (incl. rollovers in) | $517,735 |
| Administrative expenses paid from the plan | $243,654 |
| Other admin expenses | $57,466 |
| Benefits paid out | $32,873,362 |
| Net assets, start / end of year | $182.7M / $182.5M |
| Active participants, start / end of year | 19,582 / 19,186 |
| Participants with account balances | 3,215 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Bober, Markey, Fedorovich & Company |
Largest service providers (Schedule C)
| T Rowe Price RPS Inc | $167,188 reported compensation |
| Bober, Markey, Fedorovich & Company | $19,000 reported compensation |
| Highland Consulting Associates Inc | $12,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251003044541NAL0002589938001, received 2025-10-03, EIN 34-0720629, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.