Richemont North America, Inc. 401(k) Review & Grade
Richemont North America, Inc. Retirement Plan
Shelton, CTRetail Trade3,598 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$5,920Employer $ per active participant
$7,118Employee $ saved per active participant
0.09%Direct admin cost, % of plan assets
$456.5MNet plan assets, end of year
$106,414Average balance per account
Score breakdown
- Employer generosity49.2 / 5098th percentile for employer $ per participant
- Low cost15.2 / 2561th percentile for low admin cost vs. same-size plans
- Employee saving14.5 / 1597th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score69 / 100 · Grade B
This plan vs. peers
Peers: Retail Trade plans with 2,500–9,999 active participants (183 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 98th |
| Lower admin cost | 61th |
| Employee saving | 97th |
| Peers that auto-enroll | 42% |
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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 ($79,290 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $5,690 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Richemont North America put in about $5,920 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.
- 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 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 | $21,303,695 |
| Participant (employee) contributions | $25,614,611 |
| Other contributions (incl. rollovers in) | $7,189,157 |
| Administrative expenses paid from the plan | $375,421 |
| Benefits paid out | $34,130,982 |
| Net assets, start / end of year | $382.6M / $456.5M |
| Active participants, start / end of year | 3,496 / 3,701 |
| Participants with account balances | 4,290 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Cohnreznick LLP |
Largest service providers (Schedule C)
| Transamerica Retirement Solutions | $375,421 reported compensation |
| National Financial Services | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014154328NAL0006713554001, received 2025-10-14, EIN 13-2852910, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.