Petsmart, LLC 401(k) Review & Grade
Petsmart, Inc. Savesmart 401(k) Plan
Phoenix, AZRetail Trade47,138 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$331Employer $ per active participant
$1,031Employee $ saved per active participant
0.15%Direct admin cost, % of plan assets
$667.2MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity7.7 / 5015th percentile for employer $ per participant
- Low cost6.7 / 2527th percentile for low admin cost vs. same-size plans
- Employee saving4.3 / 1528th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score19 / 100 · Grade F
This plan vs. peers
Peers: Retail Trade plans with 10,000+ active participants (124 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 15th |
| Lower admin cost | 27th |
| Employee saving | 28th |
| Peers that auto-enroll | 32% |
Get the monthly 401(k) report card
The best and worst plans, new grades as filings post. One email a month, no spam.
Red flags from the filing
Corrective distributions: the plan refunded $2,219,051 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Petsmart put in about $331 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 | $15,625,045 |
| Participant (employee) contributions | $48,593,608 |
| Other contributions (incl. rollovers in) | $3,275,220 |
| Administrative expenses paid from the plan | $957,425 |
| Investment advisory & management fees | $92,101 |
| Other admin expenses | $88,179 |
| Benefits paid out | $67,800,404 |
| Net assets, start / end of year | $576.0M / $667.2M |
| Active participants, start / end of year | 47,482 / 46,794 |
| Participants with account balances | 15,099 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Cbiz Cpas P.C. |
Largest service providers (Schedule C)
| Fidelity Investments Inst Op Co LLC | $777,144 reported compensation |
| Strategic Advisors, Inc. | $92,101 reported compensation |
| Abd Retirement Services, Inc | $82,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250730114353NAL0002310499001, received 2025-07-30, EIN 94-3024325, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.