Pappas Restaurants, Inc. 401(k) Review & Grade
Pappas Restaurants 401(k) Plan
Houston, TXAccommodation & Food Services5,917 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$98Employer $ per active participant
$643Employee $ saved per active participant
0.15%Direct admin cost, % of plan assets
$51.3MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity14.1 / 5028th percentile for employer $ per participant
- Low cost11.1 / 2544th percentile for low admin cost vs. same-size plans
- Employee saving7.3 / 1549th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score43 / 100 · Grade D
This plan vs. peers
Peers: Accommodation & Food Services plans with 2,500–9,999 active participants (104 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 28th |
| Lower admin cost | 44th |
| Employee saving | 49th |
| 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
- Pappas Restaurants put in about $98 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.
- Fund expense ratios aren't in the filing. Look them up in your 404(a)(5) fee disclosure and favor low-cost index or target-date funds.
- 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 | $578,089 |
| Participant (employee) contributions | $3,805,450 |
| Other contributions (incl. rollovers in) | $94,300 |
| Administrative expenses paid from the plan | $69,681 |
| Other admin expenses | $6,619 |
| Benefits paid out | $3,950,230 |
| Net assets, start / end of year | $44.3M / $51.3M |
| Active participants, start / end of year | 10,048 / 1,786 |
| Participants with account balances | 1,481 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Weinstein Spira & Company, P.C. |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company O | $65,744 reported compensation |
| Weinstein Spira & Company PC | $6,619 reported compensation |
| Mma Securities LLC | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250918095432NAL0000602387001, received 2025-09-18, EIN 76-0193066, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.