Legal Sea Foods Restaurant Group Inc 401(k) Review & Grade
PPX Hospitality Brands 401(k) Plan
Boston, MAAccommodation & Food Services1,942 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$179Employer $ per active participant
$761Employee $ saved per active participant
0.81%Direct admin cost, % of plan assets
$15.7MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity19.0 / 5038th percentile for employer $ per participant
- Low cost2.4 / 2510th percentile for low admin cost vs. same-size plans
- Employee saving7.3 / 1548th percentile for employee $ per participant
- Plan features0 / 10No auto-enrollment or default investment reported
Total score29 / 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 | 38th |
| Lower admin cost | 10th |
| Employee saving | 48th |
| Peers that auto-enroll | 17% |
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
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Legal Sea Foods Restaurant Group put in about $179 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.
- Direct plan expenses (0.81% 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 | $346,898 |
| Participant (employee) contributions | $1,476,999 |
| Other contributions (incl. rollovers in) | $771,274 |
| Administrative expenses paid from the plan | $114,548 |
| Investment advisory & management fees | $114,548 |
| Benefits paid out | $1,093,217 |
| Net assets, start / end of year | $12.6M / $15.7M |
| Active participants, start / end of year | 1,857 / 2,026 |
| Participants with account balances | 463 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Caron & Bletzer, PLLC |
Largest service providers (Schedule C)
| Greatwest Life & Annuity Insurance | $49,695 reported compensation |
| Alliant Insurance Services Inc. | $41,703 reported compensation |
| Empower Advisory Group, LLC | $21,924 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250729081204NAL0001423443001, received 2025-07-29, EIN 65-0224834, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.