Bojangles' Restaurants, Inc. 401(k) Review & Grade
Bojangles' Restaurants, Inc. 401(k) Plan
Charlotte, NCAccommodation & Food Services3,331 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$330Employer $ per active participant
$805Employee $ saved per active participant
1.40%Direct admin cost, % of plan assets
$19.8MNet plan assets, end of year
$5,434Average balance per account
Score breakdown
- Employer generosity31.6 / 5063th percentile for employer $ per participant
- Low cost0.6 / 253th percentile for low admin cost vs. same-size plans
- Employee saving8.0 / 1553th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score37 / 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 | 63th |
| Lower admin cost | 3th |
| Employee saving | 53th |
| Peers that auto-enroll | 15% |
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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 ($13,345 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $149,612 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Bojangles' Restaurants put in about $330 per active participant, more than the typical peer ($244). 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 (1.40% 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 auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- 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 | $1,100,307 |
| Participant (employee) contributions | $2,682,477 |
| Other contributions (incl. rollovers in) | $344,277 |
| Administrative expenses paid from the plan | $254,858 |
| Investment advisory & management fees | $58,217 |
| Benefits paid out | $2,334,796 |
| Net assets, start / end of year | $16.8M / $19.8M |
| Active participants, start / end of year | 3,484 / 3,178 |
| Participants with account balances | 3,639 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Carter |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company | $196,641 reported compensation |
| Capfinancial Partners LLC | $58,217 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251009111058NAL0006496209001, received 2025-10-09, EIN 95-4283932, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.