Herzing University, LTD 401(k) Review & Grade
Herzing University, LTD. Savings Plan
Milwaukee, WIEducational Services1,548 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,053Employer $ per active participant
$3,193Employee $ saved per active participant
0.35%Direct admin cost, % of plan assets
$61.9MNet plan assets, end of year
$33,994Average balance per account
Score breakdown
- Employer generosity19.9 / 5040th percentile for employer $ per participant
- Low cost8.8 / 2535th percentile for low admin cost vs. same-size plans
- Employee saving8.9 / 1559th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score45 / 100 · Grade C
This plan vs. peers
Peers: Educational Services plans with 500–2,499 active participants (144 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 40th |
| Lower admin cost | 35th |
| Employee saving | 59th |
| Peers that auto-enroll | 37% |
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Red flags from the filing
Corrective distributions: the plan refunded $10,509 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Herzing University put in about $1,053 per active participant, below the typical peer ($1,225). 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 (0.35% 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 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 | $1,630,987 |
| Participant (employee) contributions | $4,944,648 |
| Other contributions (incl. rollovers in) | $760,003 |
| Administrative expenses paid from the plan | $203,414 |
| Investment advisory & management fees | $57,065 |
| Benefits paid out | $5,754,505 |
| Net assets, start / end of year | $53.9M / $61.9M |
| Active participants, start / end of year | 1,463 / 1,634 |
| Participants with account balances | 1,822 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Sikich CPA LLC |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $146,349 reported compensation |
| Gallagher Fiduciary Advisors LLC | $45,000 reported compensation |
| Strategic Advisors, Inc. | $12,065 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015134607NAL0002514355001, received 2025-10-15, EIN 27-1503981, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.