Hoffman & Hoffman, Inc. 401(k) Review & Grade
Hoffman Hoffman Inc Employee Stock Ownership Plan
Greensboro, NCProfessional, Scientific & Technical Services898 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$15,212Employer $ per active participant
$7,945Employee $ saved per active participant
0.06%Direct admin cost, % of plan assets
$389.3MNet plan assets, end of year
$320,140Average balance per account
Score breakdown
- Employer generosity48.9 / 5098th percentile for employer $ per participant
- Low cost21.4 / 2586th percentile for low admin cost vs. same-size plans
- Employee saving6.1 / 1541th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score86 / 100 · Grade A
This plan vs. peers
Peers: Professional, Scientific & Technical Services plans with 500–2,499 active participants (1,469 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 98th |
| Lower admin cost | 86th |
| Employee saving | 41th |
| Peers that auto-enroll | 48% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Hoffman & Hoffman put in about $15,212 per active participant, more than the typical peer ($3,082). 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 | $13,652,671 |
| Participant (employee) contributions | $7,131,045 |
| Other contributions (incl. rollovers in) | $1,197,473 |
| Administrative expenses paid from the plan | $176,343 |
| Investment advisory & management fees | $55,000 |
| Benefits paid out | $12,371,824 |
| Net assets, start / end of year | $248.6M / $389.3M |
| Active participants, start / end of year | 826 / 969 |
| Participants with account balances | 1,216 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Bernard Robinson & Company LLP |
| Employer stock held by plan | $280,385,240 |
Largest service providers (Schedule C)
| Stanley Benefit Services | $88,090 reported compensation |
| LPL Holdings Inc. | $55,000 reported compensation |
| Midatlantic Trust Co. | $37,988 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015100619NAL0002214339001, received 2025-10-15, EIN 56-0667189, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.