Sterling Jewelers Inc. 401(k) Review & Grade
Signet Jewelers Retirement Savings Plan
Akron, OHRetail Trade24,273 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$535Employer $ per active participant
$1,682Employee $ saved per active participant
0.15%Direct admin cost, % of plan assets
$742.1MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity19.9 / 5040th percentile for employer $ per participant
- Low cost7.1 / 2528th percentile for low admin cost vs. same-size plans
- Employee saving7.8 / 1552th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score35 / 100 · Grade D
This plan vs. peers
Peers: Retail Trade plans with 10,000+ active participants (124 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 40th |
| Lower admin cost | 28th |
| Employee saving | 52th |
| Peers that auto-enroll | 32% |
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Red flags from the filing
Corrective distributions: the plan refunded $316,715 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Sterling Jewelers put in about $535 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 (0.15% 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 | $12,978,393 |
| Participant (employee) contributions | $40,829,026 |
| Other contributions (incl. rollovers in) | $7,453,704 |
| Administrative expenses paid from the plan | $1,045,105 |
| Investment advisory & management fees | $118,406 |
| Other admin expenses | $1,200 |
| Benefits paid out | $89,181,376 |
| Net assets, start / end of year | $683.2M / $742.1M |
| Active participants, start / end of year | 24,398 / 24,148 |
| Participants with account balances | 11,417 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Bober Markey Fedorovich & Compa |
| Employer stock held by plan | $816,210 |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company | $903,499 reported compensation |
| Capfinancial Partners LLC DBA Captr | $118,406 reported compensation |
| Bober Markey Fedorovich & Company | $22,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251010114503NAL0007642849001, received 2025-10-10, EIN 27-3967537, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.