Schmidt Family Restaurant Grou 401(k) Review & Grade
Schmidt Family Restaurant Grou 401(k) Profit Sharing Plan & Trust
Portsmouth, OHAccommodation & Food Services1,099 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$73Employer $ per active participant
$182Employee $ saved per active participant
0.53%Direct admin cost, % of plan assets
$3.5MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity10.3 / 5021th percentile for employer $ per participant
- Low cost5.3 / 2521th percentile for low admin cost vs. same-size plans
- Employee saving1.5 / 1510th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-5 pts1 issue reported on the filing
Total score15 / 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 | 21th |
| Lower admin cost | 21th |
| Employee saving | 10th |
| 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
Blackout notice: the plan had a blackout period (when you can't change investments) without confirming the required notice.
What to do if you're in this plan
- Schmidt Family Restaurant Grou put in about $73 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 (0.53% 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 | $80,340 |
| Participant (employee) contributions | $200,229 |
| Other contributions (incl. rollovers in) | $0 |
| Administrative expenses paid from the plan | $17,515 |
| Contract administrator fees | $11,324 |
| Investment advisory & management fees | $5,689 |
| Benefits paid out | $271,352 |
| Net assets, start / end of year | $3.1M / $3.5M |
| Active participants, start / end of year | 1,191 / 1,007 |
| Participants with account balances | 166 |
| Auto-enrollment (feature code 2S) | Not reported |
Largest service providers (Schedule C)
| Paychex, Inc. | $6,606 reported compensation |
| Levelized Compensation Advisor | $5,495 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014111135NAL0002603905001, received 2025-10-14, EIN 47-5190200, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.