Schwartz Brothers Restaurants 401(k) Review & Grade
Schwartz Brothers Restaurants 401(k) Pre-Tax Savings Plan & Trust
Bellevue, WAAccommodation & Food Services516 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$151Employer $ per active participant
$1,381Employee $ saved per active participant
0.44%Direct admin cost, % of plan assets
$13.1MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity16.8 / 5034th percentile for employer $ per participant
- Low cost6.9 / 2528th percentile for low admin cost vs. same-size plans
- Employee saving11.0 / 1573th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score28 / 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 | 34th |
| Lower admin cost | 28th |
| Employee saving | 73th |
| Peers that auto-enroll | 17% |
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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 ($105 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
- Schwartz Brothers Restaurants put in about $151 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 (0.44% 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.
- 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 | $77,817 |
| Participant (employee) contributions | $712,554 |
| Other contributions (incl. rollovers in) | $27,856 |
| Administrative expenses paid from the plan | $54,551 |
| Investment advisory & management fees | $24,181 |
| Benefits paid out | $1,502,478 |
| Net assets, start / end of year | $12.0M / $13.1M |
| Active participants, start / end of year | 396 / 636 |
| Participants with account balances | 252 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Clark Nuber PS |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $30,370 reported compensation |
| Global Retirement Partners LLC | $22,600 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251007111704NAL0008021584001, received 2025-10-07, EIN 20-1335083, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.