Hancock Whitney Corporation 401(k) Review & Grade
Hancock Whitney Corporation 401(k) Savings Plan
Gulfport, MSFinance & Insurance3,451 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$5,116Employer $ per active participant
$6,991Employee $ saved per active participant
0.08%Direct admin cost, % of plan assets
$607.6MNet plan assets, end of year
$132,126Average balance per account
Score breakdown
- Employer generosity29.0 / 5058th percentile for employer $ per participant
- Low cost16.2 / 2565th percentile for low admin cost vs. same-size plans
- Employee saving4.5 / 1530th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score57 / 100 · Grade C
This plan vs. peers
Peers: Finance & Insurance plans with 2,500–9,999 active participants (199 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 58th |
| Lower admin cost | 65th |
| Employee saving | 30th |
| Peers that auto-enroll | 66% |
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Red flags from the filing
Corrective distributions: the plan refunded $21 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Hancock Whitney put in about $5,116 per active participant, more than the typical peer ($4,489). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- 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.
- Fund expense ratios aren't in the filing. Look them up in your 404(a)(5) fee disclosure and favor low-cost index or target-date funds.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- 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 | $17,654,175 |
| Participant (employee) contributions | $24,125,268 |
| Other contributions (incl. rollovers in) | $1,459,286 |
| Administrative expenses paid from the plan | $451,839 |
| Other admin expenses | $900 |
| Benefits paid out | $57,642,280 |
| Net assets, start / end of year | $542.5M / $607.6M |
| Active participants, start / end of year | 3,561 / 3,341 |
| Participants with account balances | 4,599 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Eisneramperllp |
| Employer stock held by plan | $26,631,541 |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company | $450,939 reported compensation |
| Cowen & Company LLC | $6,690 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250702083046NAL0031099474001, received 2025-07-02, EIN 64-0693170, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.