The Hilb Group Operating Company, LLC 401(k) Review & Grade
The Hilb Group Operating Company, LLC 401(k) Plan
Richmond, VAFinance & Insurance2,266 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3,200Employer $ per active participant
$8,298Employee $ saved per active participant
0.22%Direct admin cost, % of plan assets
$178.6MNet plan assets, end of year
$72,321Average balance per account
Score breakdown
- Employer generosity21.4 / 5043th percentile for employer $ per participant
- Low cost12.8 / 2551th percentile for low admin cost vs. same-size plans
- Employee saving9.5 / 1563th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score54 / 100 · Grade C
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 43th |
| Lower admin cost | 51th |
| Employee saving | 63th |
| Peers that auto-enroll | 62% |
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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
- Hilb Group Operating Company put in about $3,200 per active participant, below the typical peer ($3,606). 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.
- 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 | $7,252,608 |
| Participant (employee) contributions | $18,806,781 |
| Other contributions (incl. rollovers in) | $3,229,457 |
| Administrative expenses paid from the plan | $353,874 |
| Investment advisory & management fees | $117,417 |
| Benefits paid out | $11,622,923 |
| Net assets, start / end of year | $141.9M / $178.6M |
| Active participants, start / end of year | 2,260 / 2,273 |
| Participants with account balances | 2,470 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Keiter |
Largest service providers (Schedule C)
| Schwab Retirement Plan Services,inc | $256,703 reported compensation |
| Sage Advisory Group | $97,171 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251007124146NAL0002470467001, received 2025-10-07, EIN 47-1098088, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.