Red Wing Shoe Company, Inc. 401(k) Review & Grade
Red Wing Shoe Company, Inc. 401(k) Profit Sharing Plan
Red Wing, MNManufacturing1,960 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,939Employer $ per active participant
$5,114Employee $ saved per active participant
0.19%Direct admin cost, % of plan assets
$190.8MNet plan assets, end of year
$72,501Average balance per account
Score breakdown
- Employer generosity21.0 / 5042th percentile for employer $ per participant
- Low cost14.1 / 2556th percentile for low admin cost vs. same-size plans
- Employee saving8.0 / 1553th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score53 / 100 · Grade C
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 42th |
| Lower admin cost | 56th |
| Employee saving | 53th |
| Peers that auto-enroll | 59% |
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
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Red Wing Shoe Company put in about $1,939 per active participant, below the typical peer ($2,320). 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.
- 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 | $3,801,470 |
| Participant (employee) contributions | $10,025,619 |
| Other contributions (incl. rollovers in) | $866,110 |
| Administrative expenses paid from the plan | $350,936 |
| Investment advisory & management fees | $125,000 |
| Benefits paid out | $31,480,144 |
| Net assets, start / end of year | $184.6M / $190.8M |
| Active participants, start / end of year | 2,011 / 1,910 |
| Participants with account balances | 2,632 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Bdo USA, P.C. |
Largest service providers (Schedule C)
| Transamerica Retirement Solutions | $186,229 reported compensation |
| Sageview Advisory Group | $125,000 reported compensation |
| Bdo USA, P.C. | $39,707 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251010081141NAL0007792129002, received 2025-10-10, EIN 41-0498220, plan #006, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.