Panera Bread Company 401(k) Review & Grade
Panera Bread Company 401(k) Retirement Savings Plan
Fenton, MOAccommodation & Food Services26,644 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$459Employer $ per active participant
$979Employee $ saved per active participant
0.18%Direct admin cost, % of plan assets
$285.0MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity28.7 / 5057th percentile for employer $ per participant
- Low cost5.4 / 2522th percentile for low admin cost vs. same-size plans
- Employee saving7.5 / 1550th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score45 / 100 · Grade C
This plan vs. peers
Peers: Accommodation & Food Services plans with 10,000+ active participants (41 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 57th |
| Lower admin cost | 22th |
| Employee saving | 50th |
| Peers that auto-enroll | 24% |
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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
- Panera Bread put in about $459 per active participant, more than the typical peer ($393). 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 (0.18% of assets) are well above similar-size plans (0.09%). 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 | $12,240,241 |
| Participant (employee) contributions | $26,087,663 |
| Other contributions (incl. rollovers in) | $3,019,475 |
| Administrative expenses paid from the plan | $471,583 |
| Contract administrator fees | $471,583 |
| Benefits paid out | $42,678,860 |
| Net assets, start / end of year | $250.8M / $285.0M |
| Active participants, start / end of year | 28,197 / 25,092 |
| Participants with account balances | 7,318 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Armanino, LLP |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $471,583 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250728094317NAL0002973346001, received 2025-07-28, EIN 04-2723701, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.