Hooters of America, LLC 401(k) Review & Grade
Hooters of America, LLC 401(k) Plan
Atlanta, GAAccommodation & Food Services4,261 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$178Employer $ per active participant
$324Employee $ saved per active participant
0.51%Direct admin cost, % of plan assets
$17.4MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity22.3 / 5045th percentile for employer $ per participant
- Low cost3.1 / 2512th percentile for low admin cost vs. same-size plans
- Employee saving3.8 / 1525th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score22 / 100 · Grade F
This plan vs. peers
Peers: Accommodation & Food Services plans with 2,500–9,999 active participants (104 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 45th |
| Lower admin cost | 12th |
| Employee saving | 25th |
| 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 ($319,685 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
- Hooters of America put in about $178 per active participant, below the typical peer ($244). 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 (0.12%). 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 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 | $758,729 |
| Participant (employee) contributions | $1,379,251 |
| Other contributions (incl. rollovers in) | $167,036 |
| Administrative expenses paid from the plan | $85,032 |
| Investment advisory & management fees | $27,304 |
| Benefits paid out | $2,904,002 |
| Net assets, start / end of year | $15.8M / $17.4M |
| Active participants, start / end of year | 5,077 / 3,445 |
| Participants with account balances | 497 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Cliftonlarsonallen LLP |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company O | $57,728 reported compensation |
| Mercer (US) Inc Mercer Investments | $24,926 reported compensation |
| Empower Advisory Group, LLC | $2,378 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015161103NAL0002610019001, received 2025-10-15, EIN 75-1965288, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.