Sports Warehouse, Inc. 401(k) Review & Grade
Tennis Warehouse 401(k) Profit Sharing Plan
San Luis Obispo, CARetail Trade542 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,810Employer $ per active participant
$923Employee $ saved per active participant
0.78%Direct admin cost, % of plan assets
$26.8MNet plan assets, end of year
$42,405Average balance per account
Score breakdown
- Employer generosity46.5 / 5093th percentile for employer $ per participant
- Low cost2.6 / 2511th percentile for low admin cost vs. same-size plans
- Employee saving2.1 / 1514th percentile for employee $ per participant
- Plan features0 / 10No auto-enrollment or default investment reported
- Red-flag deductions-3 pts1 issue reported on the filing
Total score48 / 100 · Grade C
This plan vs. peers
Peers: Retail Trade plans with 500–2,499 active participants (719 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 93th |
| Lower admin cost | 11th |
| Employee saving | 14th |
| Peers that auto-enroll | 48% |
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Red flags from the filing
Corrective distributions: the plan refunded $31,723 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Sports Warehouse put in about $2,810 per active participant, more than the typical peer ($743). 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 (0.78% 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.
- 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 | $1,521,782 |
| Participant (employee) contributions | $499,863 |
| Other contributions (incl. rollovers in) | $49,049 |
| Administrative expenses paid from the plan | $189,083 |
| Contract administrator fees | $223 |
| Investment advisory & management fees | $188,795 |
| Other admin expenses | $65 |
| Benefits paid out | $679,775 |
| Net assets, start / end of year | $21.7M / $26.8M |
| Active participants, start / end of year | 572 / 511 |
| Participants with account balances | 633 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Caliber Audit & Attest, LLP |
Largest service providers (Schedule C)
| Taylor Frigon Capital Management | $177,246 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251009134838NAL0011594336001, received 2025-10-09, EIN 77-0473888, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.