Hyde Park Burgers, LLC 401(k) Review & Grade
Hyde Park Burgers 401(k) Plan
Natick, MAAccommodation & Food Services1,668 active participantsPlan year 2024
Estimate from the plan's Form 5500-SF filing · How we grade
$36Employer $ per active participant
$72Employee $ saved per active participant
2.01%Direct admin cost, % of plan assets
$514,023Net plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity6.1 / 5012th percentile for employer $ per participant
- Low cost0.3 / 251th percentile for low admin cost vs. same-size plans
- Employee saving0.3 / 152th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score7 / 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 | 12th |
| Lower admin cost | 1th |
| Employee saving | 2th |
| Peers that auto-enroll | 17% |
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Red flags from the filing
Corrective distributions: the plan refunded $9,209 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Hyde Park Burgers put in about $36 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 (2.01% 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 | $60,156 |
| Participant (employee) contributions | $119,538 |
| Other contributions (incl. rollovers in) | $70,364 |
| Administrative expenses paid from the plan | $8,293 |
| Benefits paid out | $73,874 |
| Net assets, start / end of year | $309,806 / $514,023 |
| Active participants, start / end of year | 1,328 / 2,007 |
| Participants with account balances | 43 |
| Auto-enrollment (feature code 2S) | Not reported |
Source: DOL EFAST2 Form 5500-SF filing, acknowledgment ID 20250805111737NAL0001782209001, received 2025-08-05, EIN 81-1946753, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.