Johnson & Wales University 401(k) Review & Grade
Johnson & Wales University 401(k) Retirement Savings Plan
Providence, RIEducational Services1,247 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$7,391Employer $ per active participant
$7,880Employee $ saved per active participant
0.14%Direct admin cost, % of plan assets
$367.9MNet plan assets, end of year
$192,943Average balance per account
Score breakdown
- Employer generosity48.6 / 5097th percentile for employer $ per participant
- Low cost16.0 / 2564th percentile for low admin cost vs. same-size plans
- Employee saving13.2 / 1588th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score85 / 100 · Grade A
This plan vs. peers
Peers: Educational Services plans with 500–2,499 active participants (144 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 97th |
| Lower admin cost | 64th |
| Employee saving | 88th |
| Peers that auto-enroll | 37% |
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 $603 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Johnson & Wales University put in about $7,391 per active participant, more than the typical peer ($1,225). 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 auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- 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 | $9,217,034 |
| Participant (employee) contributions | $9,826,328 |
| Other contributions (incl. rollovers in) | $643,160 |
| Administrative expenses paid from the plan | $514,414 |
| Investment advisory & management fees | $98,373 |
| Other admin expenses | $400 |
| Benefits paid out | $40,179,698 |
| Net assets, start / end of year | $343.0M / $367.9M |
| Active participants, start / end of year | 1,251 / 1,243 |
| Participants with account balances | 1,907 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | RSM US LLP |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company | $139,368 reported compensation |
| Capfinancial Partners LLC DBA Captr | $98,373 reported compensation |
| RSM US LLP | $31,460 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014132104NAL0006034850001, received 2025-10-14, EIN 05-0306206, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.