Driven Brands Inc. 401(k) Review & Grade
Driven Brands, Inc. Employee Retirement Savings Plan
Charlotte, NCRetail Trade6,708 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$783Employer $ per active participant
$1,444Employee $ saved per active participant
0.34%Direct admin cost, % of plan assets
$79.9MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity28.6 / 5057th percentile for employer $ per participant
- Low cost4.9 / 2519th percentile for low admin cost vs. same-size plans
- Employee saving5.7 / 1538th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score32 / 100 · Grade D
This plan vs. peers
Peers: Retail Trade plans with 2,500–9,999 active participants (183 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 57th |
| Lower admin cost | 19th |
| Employee saving | 38th |
| Peers that auto-enroll | 42% |
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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 ($1,711 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- Driven Brands put in about $783 per active participant, more than the typical peer ($650). 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 (0.34% of assets) are well above similar-size plans (0.12%). 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 | $5,252,092 |
| Participant (employee) contributions | $9,686,560 |
| Other contributions (incl. rollovers in) | $3,618,271 |
| Administrative expenses paid from the plan | $247,197 |
| Contract administrator fees | $247,197 |
| Benefits paid out | $13,605,097 |
| Net assets, start / end of year | $66.2M / $79.9M |
| Active participants, start / end of year | 6,699 / 6,716 |
| Participants with account balances | 2,431 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Baker Tilly US, LLP |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $247,197 reported compensation |
| Ubs Financial Services Inc | $49,080 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251002104715NAL0000343345001, received 2025-10-02, EIN 20-0381531, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.