Papa John's International, Inc. 401(k) Review & Grade
Papa John's International, Inc. 401(k) Plan
Atlanta, GARetail Trade8,097 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$581Employer $ per active participant
$1,118Employee $ saved per active participant
0.36%Direct admin cost, % of plan assets
$115.3MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity23.1 / 5046th percentile for employer $ per participant
- Low cost4.5 / 2518th percentile for low admin cost vs. same-size plans
- Employee saving3.9 / 1526th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score25 / 100 · Grade F
This plan vs. peers
Peers: Retail Trade plans with 2,500–9,999 active participants (183 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 46th |
| Lower admin cost | 18th |
| Employee saving | 26th |
| 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 ($689 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
- Papa John's International put in about $581 per active participant, below the typical peer ($650). 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 (0.36% 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 | $4,700,789 |
| Participant (employee) contributions | $9,054,894 |
| Other contributions (incl. rollovers in) | $1,792,812 |
| Administrative expenses paid from the plan | $389,566 |
| Contract administrator fees | $389,566 |
| Benefits paid out | $12,180,814 |
| Net assets, start / end of year | $99.2M / $115.3M |
| Active participants, start / end of year | 8,240 / 7,954 |
| Participants with account balances | 1,882 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Cherry Bekaert LLP |
| Employer stock held by plan | $1,574,475 |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $389,565 reported compensation |
| LPL Financial LLC - Rpcp | $40,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250626155634NAL0005047203001, received 2025-06-26, EIN 61-1203323, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.