Warby Parker Inc. 401(k) Review & Grade
Warby Parker Retirement Savings Plan
New York, NYRetail Trade3,426 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,208Employer $ per active participant
$2,374Employee $ saved per active participant
0.26%Direct admin cost, % of plan assets
$74.6MNet plan assets, end of year
$42,965Average balance per account
Score breakdown
- Employer generosity36.3 / 5073th percentile for employer $ per participant
- Low cost6.7 / 2527th percentile for low admin cost vs. same-size plans
- Employee saving8.8 / 1559th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score55 / 100 · Grade C
This plan vs. peers
Peers: Retail Trade plans with 2,500–9,999 active participants (183 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 73th |
| Lower admin cost | 27th |
| Employee saving | 59th |
| Peers that auto-enroll | 42% |
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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
- Warby Parker put in about $1,208 per active participant, more than the typical peer ($650). 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.
- Direct plan expenses (0.26% of assets) are well above similar-size plans (0.12%). 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 | $4,139,849 |
| Participant (employee) contributions | $8,132,209 |
| Other contributions (incl. rollovers in) | $1,174,759 |
| Administrative expenses paid from the plan | $172,059 |
| Contract administrator fees | $300 |
| Investment advisory & management fees | $47,778 |
| Benefits paid out | $6,869,599 |
| Net assets, start / end of year | $58.4M / $74.6M |
| Active participants, start / end of year | 2,707 / 4,145 |
| Participants with account balances | 1,737 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Cbiz Cpas, P.C. |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $124,281 reported compensation |
| Creative Planning LLC | $28,333 reported compensation |
| Strategic Advisors, Inc. | $19,445 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014115613NAL0005713650001, received 2025-10-14, EIN 80-0423634, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.