Hargrove and Associates, Inc. 401(k) Review & Grade
Hargrove 401(k) Plan and Trust
Mobile, ALProfessional, Scientific & Technical Services2,475 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,656Employer $ per active participant
$10,713Employee $ saved per active participant
0.14%Direct admin cost, % of plan assets
$250.9MNet plan assets, end of year
$87,598Average balance per account
Score breakdown
- Employer generosity21.9 / 5044th percentile for employer $ per participant
- Low cost16.2 / 2565th percentile for low admin cost vs. same-size plans
- Employee saving9.7 / 1565th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score48 / 100 · Grade C
This plan vs. peers
Peers: Professional, Scientific & Technical Services plans with 500–2,499 active participants (1,469 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 44th |
| Lower admin cost | 65th |
| Employee saving | 65th |
| Peers that auto-enroll | 48% |
Get the monthly 401(k) report card
The best and worst plans, new grades as filings post. One email a month, no spam.
Red flags from the filing
Corrective distributions: the plan refunded $18,190 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Hargrove and Associates put in about $2,656 per active participant, below the typical peer ($3,082). 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.
- 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.
- 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 | $6,573,857 |
| Participant (employee) contributions | $26,514,181 |
| Other contributions (incl. rollovers in) | $7,561,839 |
| Administrative expenses paid from the plan | $323,673 |
| Contract administrator fees | $300 |
| Investment advisory & management fees | $125,770 |
| Benefits paid out | $23,858,510 |
| Net assets, start / end of year | $203.8M / $250.9M |
| Active participants, start / end of year | 2,477 / 2,473 |
| Participants with account balances | 2,864 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Harding, Shymanski & Company, PSC |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $197,903 reported compensation |
| Regions Bank | $70,000 reported compensation |
| Strategic Advisors, Inc. | $55,770 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250924105504NAL0002974547001, received 2025-09-24, EIN 72-1352530, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.