Faire Wholesale, Inc. 401(k) Review & Grade
Faire 401(k) Plan
San Francisco, CAWholesale Trade566 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$15Employer $ per active participant
$12,404Employee $ saved per active participant
0.48%Direct admin cost, % of plan assets
$32.7MNet plan assets, end of year
$57,138Average balance per account
Score breakdown
- Employer generosity1.0 / 502th percentile for employer $ per participant
- Low cost6.1 / 2524th percentile for low admin cost vs. same-size plans
- Employee saving14.7 / 1598th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score15 / 100 · Grade F
This plan vs. peers
Peers: Wholesale Trade plans with 500–2,499 active participants (603 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 2th |
| Lower admin cost | 24th |
| Employee saving | 98th |
| Peers that auto-enroll | 53% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($2,822,313 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- Faire Wholesale put in about $15 per active participant, below the typical peer ($1,792). 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 (0.48% of assets) are well above similar-size plans (0.23%). 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.
- The plan reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- 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 | $8,490 |
| Participant (employee) contributions | $7,020,483 |
| Other contributions (incl. rollovers in) | $1,570,486 |
| Administrative expenses paid from the plan | $138,026 |
| Investment advisory & management fees | $138,026 |
| Benefits paid out | $4,556,524 |
| Net assets, start / end of year | $24.8M / $32.7M |
| Active participants, start / end of year | 572 / 560 |
| Participants with account balances | 573 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Baker Tilly, US LLP |
Largest service providers (Schedule C)
| Human Interest Advisor LLC | $138,027 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251021110736NAL0003268114001, received 2025-10-21, EIN 81-4549038, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.