Raising Cane's USA, LLC 401(k) Review & Grade
Raising Cane's Retirement Savings Plan
Plano, TXAccommodation & Food Services23,466 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$393Employer $ per active participant
$715Employee $ saved per active participant
0.08%Direct admin cost, % of plan assets
$108.4MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity23.8 / 5048th percentile for employer $ per participant
- Low cost13.2 / 2553th percentile for low admin cost vs. same-size plans
- Employee saving4.5 / 1530th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score42 / 100 · Grade D
This plan vs. peers
Peers: Accommodation & Food Services plans with 10,000+ active participants (41 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 48th |
| Lower admin cost | 53th |
| Employee saving | 30th |
| Peers that auto-enroll | 24% |
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Red flags from the filing
Corrective distributions: the plan refunded $2,040,363 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Raising Cane's USA put in about $393 per active participant, below the typical peer ($393). 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.
- 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 | $9,219,971 |
| Participant (employee) contributions | $16,774,466 |
| Other contributions (incl. rollovers in) | $2,676,190 |
| Administrative expenses paid from the plan | $75,519 |
| Benefits paid out | $7,942,691 |
| Net assets, start / end of year | $77.2M / $108.4M |
| Active participants, start / end of year | 21,289 / 25,642 |
| Participants with account balances | 3,652 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Whitley Penn LLP |
Largest service providers (Schedule C)
| T Rowe Price RPS Inc | $75,519 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250911094610NAL0000206513001, received 2025-09-11, EIN 72-1464965, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.