Thomas Management, LLC 401(k) Review & Grade
Thomas Cuisine Management 401(k) Plan
Meridian, IDAccommodation & Food Services1,278 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$731Employer $ per active participant
$2,134Employee $ saved per active participant
0.63%Direct admin cost, % of plan assets
$26.8MNet plan assets, end of year
$37,961Average balance per account
Score breakdown
- Employer generosity40.6 / 5081th percentile for employer $ per participant
- Low cost4.1 / 2516th percentile for low admin cost vs. same-size plans
- Employee saving12.9 / 1586th percentile for employee $ per participant
- Plan features0 / 10No auto-enrollment or default investment reported
- Red-flag deductions-13 pts2 issues reported on the filing
Total score45 / 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 | 81th |
| Lower admin cost | 16th |
| Employee saving | 86th |
| Peers that auto-enroll | 17% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($109,714 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $103,508 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Thomas Management put in about $731 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 (0.63% 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.
- The plan reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- 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 | $934,355 |
| Participant (employee) contributions | $2,726,280 |
| Other contributions (incl. rollovers in) | $281,779 |
| Administrative expenses paid from the plan | $160,254 |
| Contract administrator fees | $25,010 |
| Investment advisory & management fees | $55,469 |
| Benefits paid out | $4,439,253 |
| Net assets, start / end of year | $24.4M / $26.8M |
| Active participants, start / end of year | 1,163 / 1,392 |
| Participants with account balances | 707 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Eide Bailly, LLP |
Largest service providers (Schedule C)
| Empower Annuity Ins. Co. of America | $79,775 reported compensation |
| Pinnacle Pension Services, Inc. | $35,010 reported compensation |
| Pensionmark Financial Group, LLC | $30,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015143248NAL0005142401001, received 2025-10-15, EIN 82-0410020, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.