Food Concepts International, LP 401(k) Review & Grade
Food Concepts International, LP 401(k) Plan
Lubbock, TXAccommodation & Food Services1,400 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$185Employer $ per active participant
$338Employee $ saved per active participant
0.61%Direct admin cost, % of plan assets
$14.5MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity19.3 / 5039th percentile for employer $ per participant
- Low cost4.2 / 2517th percentile for low admin cost vs. same-size plans
- Employee saving3.1 / 1521th percentile for employee $ per participant
- Plan features0 / 10No auto-enrollment or default investment reported
Total score27 / 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 | 39th |
| Lower admin cost | 17th |
| Employee saving | 21th |
| 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
- Food Concepts International, LP put in about $185 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 | $259,127 |
| Participant (employee) contributions | $472,368 |
| Other contributions (incl. rollovers in) | $32,780 |
| Administrative expenses paid from the plan | $87,208 |
| Contract administrator fees | $49,657 |
| Investment advisory & management fees | $37,551 |
| Benefits paid out | $2,545,214 |
| Net assets, start / end of year | $13.9M / $14.5M |
| Active participants, start / end of year | 1,431 / 1,368 |
| Participants with account balances | 174 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Mcconnell & Jones, LLP |
Largest service providers (Schedule C)
| Wells Fargo Advisors, LLC | $37,551 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251006171648NAL0006705152001, received 2025-10-06, EIN 75-2305079, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.