Sizzling Steak Concepts, Inc. 401(k) Review & Grade
Sizzling Steak Concepts 401(k) Plan
Alpharetta, GAAccommodation & Food Services560 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$528Employer $ per active participant
$1,458Employee $ saved per active participant
0.55%Direct admin cost, % of plan assets
$15.6MNet plan assets, end of year
$39,303Average balance per account
Score breakdown
- Employer generosity36.0 / 5072th percentile for employer $ per participant
- Low cost5.1 / 2520th percentile for low admin cost vs. same-size plans
- Employee saving11.3 / 1575th percentile for employee $ per participant
- Plan features0 / 10No auto-enrollment or default investment reported
Total score52 / 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 | 72th |
| Lower admin cost | 20th |
| Employee saving | 75th |
| Peers that auto-enroll | 17% |
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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
- Sizzling Steak Concepts put in about $528 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 (0.55% 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 | $296,145 |
| Participant (employee) contributions | $817,192 |
| Other contributions (incl. rollovers in) | – |
| Administrative expenses paid from the plan | $80,413 |
| Contract administrator fees | $80,413 |
| Benefits paid out | $1,412,794 |
| Net assets, start / end of year | $13.7M / $15.6M |
| Active participants, start / end of year | 496 / 625 |
| Participants with account balances | 398 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Trailbreaker Accounting PLLC |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $3,874 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251008113250NAL0003235347001, received 2025-10-08, EIN 72-1191782, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.