Bill Miller Bar-B-Q Enterprises, LLC 401(k) Review & Grade
Bill Miller Bar-B-Q Enterprises, LLC 401(k) Profit Sharing Plan
San Antonio, TXAccommodation & Food Services2,180 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$163Employer $ per active participant
$461Employee $ saved per active participant
0.61%Direct admin cost, % of plan assets
$23.7MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity17.8 / 5036th percentile for employer $ per participant
- Low cost4.2 / 2517th percentile for low admin cost vs. same-size plans
- Employee saving4.2 / 1528th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score16 / 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 | 36th |
| Lower admin cost | 17th |
| Employee saving | 28th |
| Peers that auto-enroll | 17% |
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Red flags from the filing
Auditor concern: the independent auditor gave a qualified or adverse opinion.
Corrective distributions: the plan refunded $32,113 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Bill Miller Bar-B-Q Enterprises put in about $163 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 (0.61% 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 | $354,355 |
| Participant (employee) contributions | $1,005,732 |
| Other contributions (incl. rollovers in) | $9,824 |
| Administrative expenses paid from the plan | $138,606 |
| Contract administrator fees | $7,900 |
| Investment advisory & management fees | $66,885 |
| Benefits paid out | $1,837,017 |
| Net assets, start / end of year | $21.6M / $23.7M |
| Active participants, start / end of year | 2,452 / 1,909 |
| Participants with account balances | 532 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Burkhart Peterson, Cpas PLLC |
Largest service providers (Schedule C)
| John Hancock Life Insurance Company | $69,257 reported compensation |
| Endure Retirement LLC | $57,661 reported compensation |
| Leafhouse Financial Advisors | $9,223 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250624103705NAL0004018211001, received 2025-06-24, EIN 74-1595559, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.