Hexaware Technologies, Incorporated 401(k) Review & Grade
Hexaware Technologies, Incorporated Retirement Plan
Iselin, NJProfessional, Scientific & Technical Services1,802 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$178Employer $ per active participant
$3,951Employee $ saved per active participant
0.61%Direct admin cost, % of plan assets
$34.7MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity4.2 / 508th percentile for employer $ per participant
- Low cost4.2 / 2517th percentile for low admin cost vs. same-size plans
- Employee saving3.0 / 1520th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score11 / 100 · Grade F
This plan vs. peers
Peers: Professional, Scientific & Technical Services plans with 500–2,499 active participants (1,469 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 8th |
| Lower admin cost | 17th |
| Employee saving | 20th |
| Peers that auto-enroll | 48% |
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Red flags from the filing
Corrective distributions: the plan refunded $265,769 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Hexaware Technologies, Incorporated put in about $178 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.
- Direct plan expenses (0.61% 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.
- 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 | $320,706 |
| Participant (employee) contributions | $7,119,838 |
| Other contributions (incl. rollovers in) | $1,213,760 |
| Administrative expenses paid from the plan | $188,948 |
| Contract administrator fees | $188,948 |
| Benefits paid out | $4,707,009 |
| Net assets, start / end of year | $27.2M / $34.7M |
| Active participants, start / end of year | 1,724 / 1,880 |
| Participants with account balances | 896 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Pricekubecka PLLC |
Largest service providers (Schedule C)
| Empower Annuity Ins Co of America | $109,476 reported compensation |
| Mma Securities LLC | $71,432 reported compensation |
| Empower Advisory Group | $68,657 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250905095439NAL0010281171001, received 2025-09-05, EIN 22-3301374, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.