The Wendy's Company 401(k) Review & Grade
The Wendy's Company 401(k) Retirement Plan
Dublin, OHAccommodation & Food Services10,766 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$560Employer $ per active participant
$1,112Employee $ saved per active participant
0.13%Direct admin cost, % of plan assets
$294.0MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity33.8 / 5068th percentile for employer $ per participant
- Low cost8.2 / 2533th percentile for low admin cost vs. same-size plans
- Employee saving8.6 / 1557th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score44 / 100 · Grade D
This plan vs. peers
Peers: Accommodation & Food Services plans with 10,000+ active participants (41 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 68th |
| Lower admin cost | 33th |
| Employee saving | 57th |
| Peers that auto-enroll | 24% |
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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 ($90 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
- Wendy's put in about $560 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 (0.13% 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.
- 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 | $6,030,291 |
| Participant (employee) contributions | $11,977,599 |
| Other contributions (incl. rollovers in) | $4,382,021 |
| Administrative expenses paid from the plan | $373,812 |
| Investment advisory & management fees | $208,369 |
| Other admin expenses | $300 |
| Benefits paid out | $35,207,733 |
| Net assets, start / end of year | $269.9M / $294.0M |
| Active participants, start / end of year | 11,881 / 9,652 |
| Participants with account balances | 3,175 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Rea & Associates, Inc. |
Largest service providers (Schedule C)
| Empower Advisory Group, LLC | $208,369 reported compensation |
| Empower Annuity Insurance Company | $165,143 reported compensation |
| Qdro Consultants Company, LLC | $300 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013214524NAL0004229426001, received 2025-10-13, EIN 38-0471180, plan #005, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.