Jack's Family Restaurants/sfm LP 401(k) Review & Grade
Jack's Family Restaurants/sfm 401k · d/b/a Jack's Family Restaurantslp
Birmingham, ALAccommodation & Food Services4,726 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$107Employer $ per active participant
$197Employee $ saved per active participant
0.72%Direct admin cost, % of plan assets
$17.1MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity17.0 / 5034th percentile for employer $ per participant
- Low cost1.9 / 258th percentile for low admin cost vs. same-size plans
- Employee saving1.7 / 1512th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score24 / 100 · Grade F
This plan vs. peers
Peers: Accommodation & Food Services plans with 2,500–9,999 active participants (104 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 34th |
| Lower admin cost | 8th |
| Employee saving | 12th |
| Peers that auto-enroll | 15% |
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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
- Jack's Family Restaurants/sfm LP put in about $107 per active participant, below the typical peer ($244). 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 (0.72% 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.
- 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 | $506,011 |
| Participant (employee) contributions | $931,722 |
| Other contributions (incl. rollovers in) | $57,429 |
| Administrative expenses paid from the plan | $119,604 |
| Investment advisory & management fees | $45,692 |
| Benefits paid out | $2,203,027 |
| Net assets, start / end of year | $15.9M / $17.1M |
| Active participants, start / end of year | 5,801 / 3,652 |
| Participants with account balances | 483 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Carr, Riggs, & Ingram |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company O | $116,428 reported compensation |
| Plexus Financial Services, LLC | $42,516 reported compensation |
| Empower Advisory Group, LLC | $3,176 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20260203150121NAL0001329795001, received 2026-02-03, EIN 63-0440641, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.