Skechers USA, Inc. 401(k) Review & Grade
Skechers USA, Inc. 401(k) Profit Sharing Plan
Manhattan Beach, CAWholesale Trade10,332 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$790Employer $ per active participant
$1,666Employee $ saved per active participant
0.01%Direct admin cost, % of plan assets
$237.0MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity4.4 / 509th percentile for employer $ per participant
- Low cost24.1 / 2597th percentile for low admin cost vs. same-size plans
- Employee saving0.9 / 156th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score19 / 100 · Grade F
This plan vs. peers
Peers: Wholesale Trade plans with 10,000+ active participants (35 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 9th |
| Lower admin cost | 97th |
| Employee saving | 6th |
| Peers that auto-enroll | 63% |
Red flags from the filing
Benefits not paid when due: the plan reported failing to pay some benefits on time.
Corrective distributions: the plan refunded $3,790 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Skechers USA put in about $790 per active participant, below the typical peer ($2,420). 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 | $8,161,341 |
| Participant (employee) contributions | $17,217,023 |
| Other contributions (incl. rollovers in) | $5,468,955 |
| Administrative expenses paid from the plan | $17,363 |
| Benefits paid out | $11,492,578 |
| Net assets, start / end of year | $184.9M / $237.0M |
| Active participants, start / end of year | 9,972 / 10,693 |
| Participants with account balances | 2,598 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Miller Kaplan Arase LLP |
| Employer stock held by plan | $7,783,687 |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $17,358 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250926161501NAL0004091299001, received 2025-09-26, EIN 95-4376145, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.
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