Carolina Restaurant Group, Inc. 401(k) Review & Grade
Carolina Restaurant Group, Inc. Retirement Savings Plan
Charlotte, NCAccommodation & Food Services1,512 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$172Employer $ per active participant
$305Employee $ saved per active participant
0.31%Direct admin cost, % of plan assets
$8.4MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity18.8 / 5038th percentile for employer $ per participant
- Low cost9.9 / 2540th percentile for low admin cost vs. same-size plans
- Employee saving2.7 / 1518th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score34 / 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 | 38th |
| Lower admin cost | 40th |
| Employee saving | 18th |
| 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
- Carolina Restaurant Group put in about $172 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 | $259,825 |
| Participant (employee) contributions | $461,636 |
| Other contributions (incl. rollovers in) | $0 |
| Administrative expenses paid from the plan | $26,939 |
| Investment advisory & management fees | $23,013 |
| Benefits paid out | $2,492,105 |
| Net assets, start / end of year | $9.0M / $8.4M |
| Active participants, start / end of year | 1,339 / 1,686 |
| Participants with account balances | 205 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Greerwalker LLP |
Largest service providers (Schedule C)
| NFP Retirement Inc | $23,013 reported compensation |
| Fidelity Investments Institutional | $3,926 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250908062355NAL0032025360001, received 2025-09-08, EIN 56-1814008, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.