Perry Ellis Shared Services LLC 401(k) Review & Grade
Perry Ellis Shared Services LLC 401(k) Plan
Miami, FLManufacturing1,300 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$714Employer $ per active participant
$3,730Employee $ saved per active participant
0.11%Direct admin cost, % of plan assets
$98.0MNet plan assets, end of year
$55,436Average balance per account
Score breakdown
- Employer generosity5.3 / 5011th percentile for employer $ per participant
- Low cost17.9 / 2571th percentile for low admin cost vs. same-size plans
- Employee saving5.0 / 1533th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score35 / 100 · Grade D
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 11th |
| Lower admin cost | 71th |
| Employee saving | 33th |
| Peers that auto-enroll | 59% |
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Red flags from the filing
Corrective distributions: the plan refunded $60 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Perry Ellis Shared Services put in about $714 per active participant, below the typical peer ($2,320). 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.
- 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 | $928,664 |
| Participant (employee) contributions | $4,848,617 |
| Other contributions (incl. rollovers in) | $1,391,731 |
| Administrative expenses paid from the plan | $104,076 |
| Contract administrator fees | $30,750 |
| Investment advisory & management fees | $60,405 |
| Benefits paid out | $10,876,515 |
| Net assets, start / end of year | $89.1M / $98.0M |
| Active participants, start / end of year | 1,235 / 1,365 |
| Participants with account balances | 1,768 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Elliott Davis, LLC |
Largest service providers (Schedule C)
| Truist Bank | $55,536 reported compensation |
| Elliott Davis Decosimo,llc | $30,750 reported compensation |
| Schwab Retirement Plan Services,inc | $17,740 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250904125533NAL0027403648001, received 2025-09-04, EIN 20-2085469, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.