Sterling Restaurants, LLC 401(k) Review & Grade
Sterling Restaurants, LLC 401k Plan
Atlanta, GAAccommodation & Food Services637 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$114Employer $ per active participant
$779Employee $ saved per active participant
1.63%Direct admin cost, % of plan assets
$2.8MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity13.6 / 5027th percentile for employer $ per participant
- Low cost0.5 / 252th percentile for low admin cost vs. same-size plans
- Employee saving7.3 / 1549th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score21 / 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 | 27th |
| Lower admin cost | 2th |
| Employee saving | 49th |
| Peers that auto-enroll | 17% |
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Red flags from the filing
Corrective distributions: the plan refunded $42,325 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Sterling Restaurants put in about $114 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 (1.63% 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 | $72,522 |
| Participant (employee) contributions | $496,005 |
| Other contributions (incl. rollovers in) | $20,576 |
| Administrative expenses paid from the plan | $41,233 |
| Investment advisory & management fees | $11,619 |
| Benefits paid out | $246,688 |
| Net assets, start / end of year | $2.2M / $2.8M |
| Active participants, start / end of year | 623 / 651 |
| Participants with account balances | 247 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Bennett Thrasher LLP |
Largest service providers (Schedule C)
| Adp, Inc. | $29,614 reported compensation |
| Merrill Lynch Pierce Fenner & Smith | $11,651 reported compensation |
| Adp Broker-Dealer | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250909053234NAL0042254258001, received 2025-09-09, EIN 26-4622679, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.