The Tile Shop, LLC 401(k) Review & Grade
The Tile Shop 401(k) Retirement Plan
Plymouth, MNRetail Trade1,260 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,217Employer $ per active participant
$4,152Employee $ saved per active participant
0.30%Direct admin cost, % of plan assets
$55.4MNet plan assets, end of year
$34,620Average balance per account
Score breakdown
- Employer generosity34.5 / 5069th percentile for employer $ per participant
- Low cost10.1 / 2540th percentile for low admin cost vs. same-size plans
- Employee saving10.2 / 1568th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score65 / 100 · Grade B
This plan vs. peers
Peers: Retail Trade plans with 500–2,499 active participants (719 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 69th |
| Lower admin cost | 40th |
| Employee saving | 68th |
| Peers that auto-enroll | 48% |
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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
- Tile Shop put in about $1,217 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 | $1,532,577 |
| Participant (employee) contributions | $5,229,811 |
| Other contributions (incl. rollovers in) | $186,456 |
| Administrative expenses paid from the plan | $155,818 |
| Contract administrator fees | $119,584 |
| Investment advisory & management fees | $36,234 |
| Benefits paid out | $6,737,062 |
| Net assets, start / end of year | $48.2M / $55.4M |
| Active participants, start / end of year | 1,277 / 1,242 |
| Participants with account balances | 1,599 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Cliftonlarsonallen LLP |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $119,584 reported compensation |
| Gallagher Fiduciary Advisors, LLC | $36,250 reported compensation |
| Morningstar Investment Management L | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250731155400NAL0003215971001, received 2025-07-31, EIN 47-0901485, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.