Hoar Holdings, LLC 401(k) Review & Grade
Hoar Holdings, LLC 401(k) Retirement Plan
Birmingham, ALConstruction809 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3,956Employer $ per active participant
$11,564Employee $ saved per active participant
0.11%Direct admin cost, % of plan assets
$128.1MNet plan assets, end of year
$125,708Average balance per account
Score breakdown
- Employer generosity42.3 / 5085th percentile for employer $ per participant
- Low cost18.0 / 2572th percentile for low admin cost vs. same-size plans
- Employee saving14.5 / 1597th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score82 / 100 · Grade A
This plan vs. peers
Peers: Construction plans with 500–2,499 active participants (498 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 85th |
| Lower admin cost | 72th |
| Employee saving | 97th |
| Peers that auto-enroll | 44% |
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Red flags from the filing
Corrective distributions: the plan refunded $4,058 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Hoar Holdings put in about $3,956 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.
- 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 | $3,200,000 |
| Participant (employee) contributions | $9,355,669 |
| Other contributions (incl. rollovers in) | $2,120,400 |
| Administrative expenses paid from the plan | $128,605 |
| Contract administrator fees | $128,605 |
| Benefits paid out | $10,792,955 |
| Net assets, start / end of year | $109.9M / $128.1M |
| Active participants, start / end of year | 748 / 870 |
| Participants with account balances | 1,019 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Warren Averett, LLC |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $128,277 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251001130806NAL0017842451001, received 2025-10-01, EIN 46-0789358, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.