Lazy Dog Restaurants, LLC 401(k) Review & Grade
Lazy Dog 401(k) Plan
Newport Beach, CAAccommodation & Food Services8,956 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$37Employer $ per active participant
$241Employee $ saved per active participant
0.54%Direct admin cost, % of plan assets
$9.3MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity5.8 / 5012th percentile for employer $ per participant
- Low cost2.9 / 2512th percentile for low admin cost vs. same-size plans
- Employee saving2.5 / 1517th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score11 / 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 | 12th |
| Lower admin cost | 12th |
| Employee saving | 17th |
| Peers that auto-enroll | 15% |
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Red flags from the filing
Corrective distributions: the plan refunded $228,606 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Lazy Dog Restaurants put in about $37 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 (0.54% 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.
- 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 | $331,870 |
| Participant (employee) contributions | $2,154,331 |
| Other contributions (incl. rollovers in) | $0 |
| Administrative expenses paid from the plan | $43,514 |
| Investment advisory & management fees | $3,220 |
| Benefits paid out | $1,152,779 |
| Net assets, start / end of year | $7.0M / $9.3M |
| Active participants, start / end of year | 8,646 / 9,266 |
| Participants with account balances | 541 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Pension Assurance LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $40,294 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014111535NAL0003746336001, received 2025-10-14, EIN 46-1351268, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.