Howard Industries, Inc. 401(k) Review & Grade
Howard Industries, Inc. Retirement Savings Plan
Laurel, MSManufacturing1,180 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,947Employer $ per active participant
$3,420Employee $ saved per active participant
0.18%Direct admin cost, % of plan assets
$88.0MNet plan assets, end of year
$109,470Average balance per account
Score breakdown
- Employer generosity21.1 / 5042th percentile for employer $ per participant
- Low cost14.4 / 2558th percentile for low admin cost vs. same-size plans
- Employee saving4.3 / 1529th percentile for employee $ per participant
- Plan features0 / 10No auto-enrollment or default investment reported
Total score40 / 100 · Grade D
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 42th |
| Lower admin cost | 58th |
| Employee saving | 29th |
| Peers that auto-enroll | 59% |
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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
- Howard Industries put in about $1,947 per active participant, below the typical peer ($2,320). 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.
- 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.
- 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 | $2,296,934 |
| Participant (employee) contributions | $4,035,343 |
| Other contributions (incl. rollovers in) | $21,021 |
| Administrative expenses paid from the plan | $150,840 |
| Contract administrator fees | $150,840 |
| Benefits paid out | $6,458,429 |
| Net assets, start / end of year | $78.8M / $88.0M |
| Active participants, start / end of year | 1,132 / 1,228 |
| Participants with account balances | 804 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Horne LLP |
Largest service providers (Schedule C)
| Regions Bank | $142,921 reported compensation |
| Fidelity Investments Institutional | $37,800 reported compensation |
| Horne | $30,220 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251008142717NAL0005991985001, received 2025-10-08, EIN 64-0466143, plan #005, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.