Mad Anthonys, Inc. 401(k) Review & Grade
Anthony's Restaurants Profit Sharing Plan
Kirkland, WAAccommodation & Food Services764 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$169Employer $ per active participant
$3,267Employee $ saved per active participant
0.44%Direct admin cost, % of plan assets
$33.7MNet plan assets, end of year
$36,162Average balance per account
Score breakdown
- Employer generosity18.3 / 5037th percentile for employer $ per participant
- Low cost6.8 / 2527th percentile for low admin cost vs. same-size plans
- Employee saving13.9 / 1593th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score46 / 100 · Grade C
This plan vs. peers
Peers: Accommodation & Food Services plans with 500–2,499 active participants (458 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 37th |
| Lower admin cost | 27th |
| Employee saving | 93th |
| Peers that auto-enroll | 17% |
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Red flags from the filing
Corrective distributions: the plan refunded $23,014 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Mad Anthonys put in about $169 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 (0.44% 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.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- 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 | $128,972 |
| Participant (employee) contributions | $2,496,209 |
| Other contributions (incl. rollovers in) | $14,949 |
| Administrative expenses paid from the plan | $140,859 |
| Contract administrator fees | $140,859 |
| Benefits paid out | $3,914,147 |
| Net assets, start / end of year | $30.1M / $33.7M |
| Active participants, start / end of year | 768 / 760 |
| Participants with account balances | 931 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Clark Nuber P.S. |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $143,541 reported compensation |
| Wilshire Advisors LLC | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251007104736NAL0002595299001, received 2025-10-07, EIN 91-0889684, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.