Burgerbusters Inc. 401(k) Review & Grade
Burgerbusters Savings Plan
Virginia Beach, VAAccommodation & Food Services692 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$128Employer $ per active participant
$897Employee $ saved per active participant
1.29%Direct admin cost, % of plan assets
$5.7MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity14.9 / 5030th percentile for employer $ per participant
- Low cost0.9 / 254th percentile for low admin cost vs. same-size plans
- Employee saving8.1 / 1554th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score24 / 100 · Grade F
This plan vs. peers
Peers: Accommodation & Food Services plans with 500–2,499 active participants (458 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 30th |
| Lower admin cost | 4th |
| Employee saving | 54th |
| Peers that auto-enroll | 17% |
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Red flags from the filing
Corrective distributions: the plan refunded $43,849 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Burgerbusters put in about $128 per active participant, below the typical peer ($266). 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 (1.29% of assets) are well above similar-size plans (0.23%). 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 | $88,751 |
| Participant (employee) contributions | $621,304 |
| Other contributions (incl. rollovers in) | – |
| Administrative expenses paid from the plan | $69,117 |
| Contract administrator fees | $48,928 |
| Benefits paid out | $681,264 |
| Net assets, start / end of year | $5.1M / $5.7M |
| Active participants, start / end of year | 691 / 694 |
| Participants with account balances | 168 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Elliott Davis, PLLC |
Largest service providers (Schedule C)
| John Hancock | $49,896 reported compensation |
| Onedigital Investment Advisors LLC | $19,221 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250919144541NAL0002437249001, received 2025-09-19, EIN 54-1398762, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.