Harbor Group Inc. 401(k) Review & Grade
Harbor Group Inc. 401(k) Plan
Sioux Center, IAConstruction1,458 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,474Employer $ per active participant
$8,349Employee $ saved per active participant
0.16%Direct admin cost, % of plan assets
$141.5MNet plan assets, end of year
$75,683Average balance per account
Score breakdown
- Employer generosity33.3 / 5067th percentile for employer $ per participant
- Low cost15.4 / 2562th percentile for low admin cost vs. same-size plans
- Employee saving13.1 / 1587th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score62 / 100 · Grade B
This plan vs. peers
Peers: Construction plans with 500–2,499 active participants (498 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 67th |
| Lower admin cost | 62th |
| Employee saving | 87th |
| Peers that auto-enroll | 44% |
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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 ($1,171,490 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
- Harbor Group put in about $2,474 per active participant, more than the typical peer ($1,672). 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.
- 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 | $3,606,487 |
| Participant (employee) contributions | $12,173,499 |
| Other contributions (incl. rollovers in) | $2,141,242 |
| Administrative expenses paid from the plan | $201,443 |
| Other admin expenses | $201,443 |
| Benefits paid out | $6,887,763 |
| Net assets, start / end of year | $113.2M / $141.5M |
| Active participants, start / end of year | 1,356 / 1,560 |
| Participants with account balances | 1,870 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Eide Bailly LLP |
Largest service providers (Schedule C)
| The Vanguard Group, Inc. | $129,445 reported compensation |
| Ubs Financial Services, Inc | $69,190 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250728173845NAL0004074482001, received 2025-07-28, EIN 42-1492435, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.