Gourmet Culinary Partners, LLC 401(k) Review & Grade
Gourmet Culinary Partners 401(k) Retirement Savings Plan
Lake City, GAAccommodation & Food Services788 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$0Employer $ per active participant
$1,057Employee $ saved per active participant
0.26%Direct admin cost, % of plan assets
$11.3MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity3.7 / 507th percentile for employer $ per participant
- Low cost11.4 / 2546th percentile for low admin cost vs. same-size plans
- Employee saving9.5 / 1563th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score25 / 100 · Grade F
This plan vs. peers
Peers: Accommodation & Food Services plans with 500–2,499 active participants (458 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 7th |
| Lower admin cost | 46th |
| Employee saving | 63th |
| Peers that auto-enroll | 17% |
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Red flags from the filing
Corrective distributions: the plan refunded $44,551 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Gourmet Culinary Partners put in about $0 per active participant, below the typical peer ($266). 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.
- 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 | $265 |
| Participant (employee) contributions | $831,995 |
| Other contributions (incl. rollovers in) | $327,402 |
| Administrative expenses paid from the plan | $28,772 |
| Investment advisory & management fees | $21,643 |
| Benefits paid out | $1,620,021 |
| Net assets, start / end of year | $10.8M / $11.3M |
| Active participants, start / end of year | 840 / 735 |
| Participants with account balances | 232 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Bakertilly |
Largest service providers (Schedule C)
| NFP Retirement Inc | $21,643 reported compensation |
| Empower Annuity Insurance Company | $17,938 reported compensation |
| Baker Tilly Virchow Krause, LLP | $4,300 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250731103313NAL0002506723001, received 2025-07-31, EIN 83-3649071, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.