Mayors Jewelers, Inc. 401(k) Review & Grade
Mayors Jewelers, Inc. 401(k) Profit Sharing Plan and Trust
Fort Lauderdale, FLRetail Trade637 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,391Employer $ per active participant
$6,387Employee $ saved per active participant
0.20%Direct admin cost, % of plan assets
$32.0MNet plan assets, end of year
$46,374Average balance per account
Score breakdown
- Employer generosity44.6 / 5089th percentile for employer $ per participant
- Low cost13.5 / 2554th percentile for low admin cost vs. same-size plans
- Employee saving14.0 / 1593th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score72 / 100 · Grade B
This plan vs. peers
Peers: Retail Trade plans with 500–2,499 active participants (719 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 89th |
| Lower admin cost | 54th |
| Employee saving | 93th |
| Peers that auto-enroll | 48% |
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Red flags from the filing
Benefits not paid when due: the plan reported failing to pay some benefits on time.
What to do if you're in this plan
- Mayors Jewelers put in about $2,391 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.
- 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.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- 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 | $1,523,248 |
| Participant (employee) contributions | $4,068,801 |
| Other contributions (incl. rollovers in) | $104,036 |
| Administrative expenses paid from the plan | $60,097 |
| Investment advisory & management fees | $36,935 |
| Other admin expenses | $17,887 |
| Benefits paid out | $5,285,076 |
| Net assets, start / end of year | $27.3M / $32.0M |
| Active participants, start / end of year | 601 / 673 |
| Participants with account balances | 689 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Lerrosarbey, PLLC |
Largest service providers (Schedule C)
| RBC Wealth Management | $36,935 reported compensation |
| Fidelity Investments Institutional | $5,269 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251008085934NAL0009064656001, received 2025-10-08, EIN 59-2290953, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.