Whataburger Restaurants LLC 401(k) Review & Grade
Whataburger 401(k) Savings Plan
San Antonio, TXAccommodation & Food Services38,916 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$279Employer $ per active participant
$543Employee $ saved per active participant
0.51%Direct admin cost, % of plan assets
$262.0MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity17.5 / 5035th percentile for employer $ per participant
- Low cost0.8 / 253th percentile for low admin cost vs. same-size plans
- Employee saving3.4 / 1522th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score15 / 100 · Grade F
This plan vs. peers
Peers: Accommodation & Food Services plans with 10,000+ active participants (41 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 35th |
| Lower admin cost | 3th |
| Employee saving | 22th |
| Peers that auto-enroll | 24% |
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Red flags from the filing
Benefits not paid when due: the plan reported failing to pay some benefits on time.
What to do if you're in this plan
- Whataburger Restaurants put in about $279 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.
- Direct plan expenses (0.51% 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 | $10,874,314 |
| Participant (employee) contributions | $21,139,920 |
| Other contributions (incl. rollovers in) | $949,998 |
| Administrative expenses paid from the plan | $1,275,184 |
| Contract administrator fees | $600 |
| Investment advisory & management fees | $59,708 |
| Other admin expenses | $80,044 |
| Benefits paid out | $30,856,616 |
| Net assets, start / end of year | $235.8M / $262.0M |
| Active participants, start / end of year | 38,324 / 39,507 |
| Participants with account balances | 9,665 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Forvis, LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $1,114,693 reported compensation |
| Strategic Advisors, Inc. | $59,708 reported compensation |
| Barnes & Thornburg LLP | $39,045 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251006093900NAL0003434177001, received 2025-10-06, EIN 30-1199687, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.