Hornbeck Offshore Services, Inc. 401(k) Review & Grade
Hornbeck Offshore Services, Inc. 401(k) Plan
Covington, LATransportation & Warehousing1,208 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$5,504Employer $ per active participant
$11,135Employee $ saved per active participant
0.02%Direct admin cost, % of plan assets
$150.4MNet plan assets, end of year
$97,859Average balance per account
Score breakdown
- Employer generosity47.3 / 5095th percentile for employer $ per participant
- Low cost23.7 / 2595th 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 score93 / 100 · Grade A
This plan vs. peers
Peers: Transportation & Warehousing plans with 500–2,499 active participants (392 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 95th |
| Lower admin cost | 95th |
| Employee saving | 97th |
| Peers that auto-enroll | 37% |
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Red flags from the filing
Corrective distributions: the plan refunded $1,012 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Hornbeck Offshore Services put in about $5,504 per active participant, more than the typical peer ($1,070). 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 | $6,648,523 |
| Participant (employee) contributions | $13,451,372 |
| Other contributions (incl. rollovers in) | $1,059,814 |
| Administrative expenses paid from the plan | $29,203 |
| Other admin expenses | $61,000 |
| Benefits paid out | $7,270,735 |
| Net assets, start / end of year | $117.7M / $150.4M |
| Active participants, start / end of year | 1,197 / 1,219 |
| Participants with account balances | 1,537 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Laporte, Apac |
Largest service providers (Schedule C)
| LPL Financial | $50,833 reported compensation |
| Onedigital Investment Advisors LLC | $10,167 reported compensation |
| Eisneramper, LLP | $9,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250818155422NAL0001389921001, received 2025-08-18, EIN 72-1375844, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.