Five Star Food Service, Inc. 401(k) Review & Grade
Five Star Food Service, Inc. 401(k) Employees' Savings Plan
Chattanooga, TNAccommodation & Food Services1,936 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$604Employer $ per active participant
$2,103Employee $ saved per active participant
0.49%Direct admin cost, % of plan assets
$38.8MNet plan assets, end of year
$22,162Average balance per account
Score breakdown
- Employer generosity38.4 / 5077th percentile for employer $ per participant
- Low cost6.0 / 2524th percentile for low admin cost vs. same-size plans
- Employee saving12.8 / 1585th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score54 / 100 · Grade C
This plan vs. peers
Peers: Accommodation & Food Services plans with 500–2,499 active participants (458 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 77th |
| Lower admin cost | 24th |
| Employee saving | 85th |
| Peers that auto-enroll | 17% |
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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 ($1,625 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $40,694 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Five Star Food Service put in about $604 per active participant, more than the typical peer ($266). 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 (0.49% 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 auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- 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 | $1,169,558 |
| Participant (employee) contributions | $4,071,652 |
| Other contributions (incl. rollovers in) | $587,589 |
| Administrative expenses paid from the plan | $175,348 |
| Investment advisory & management fees | $53,650 |
| Benefits paid out | $3,764,643 |
| Net assets, start / end of year | $32.7M / $38.8M |
| Active participants, start / end of year | 1,987 / 1,886 |
| Participants with account balances | 1,753 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Lee CPA Audit Group |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company O | $121,698 reported compensation |
| Onedigital Investment Advisors LLC | $28,183 reported compensation |
| Empower Advisory Group, LLC | $25,467 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014112600NAL0003774000001, received 2025-10-14, EIN 58-2225899, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.