Summit Restaurant Group, LLC 401(k) Review & Grade
Summit Restaurant Group Retirement Plan
Blue Springs, MOAccommodation & Food Services888 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$186Employer $ per active participant
$530Employee $ saved per active participant
0.15%Direct admin cost, % of plan assets
$7.6MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity19.4 / 5039th percentile for employer $ per participant
- Low cost15.8 / 2563th percentile for low admin cost vs. same-size plans
- Employee saving4.9 / 1533th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score40 / 100 · Grade D
This plan vs. peers
Peers: Accommodation & Food Services plans with 500–2,499 active participants (458 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 39th |
| Lower admin cost | 63th |
| Employee saving | 33th |
| Peers that auto-enroll | 17% |
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Red flags from the filing
Corrective distributions: the plan refunded $24,151 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Summit Restaurant Group put in about $186 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.
- 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.
- 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 | $165,105 |
| Participant (employee) contributions | $470,983 |
| Other contributions (incl. rollovers in) | $32,648 |
| Administrative expenses paid from the plan | $10,735 |
| Contract administrator fees | $10,735 |
| Benefits paid out | $580,836 |
| Net assets, start / end of year | $6.7M / $7.6M |
| Active participants, start / end of year | 903 / 874 |
| Participants with account balances | 121 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Knav CPA LLP |
Largest service providers (Schedule C)
| Stancorp Financial Group | $10,735 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250922163127NAL0004900529001, received 2025-09-22, EIN 71-1006152, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.