Federated Hermes, Inc. 401(k) Review & Grade
Federated Hermes, Inc. Employees Profit Sharing / 401(k) Plan
Pittsburgh, PAFinance & Insurance1,453 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$5,164Employer $ per active participant
$12,126Employee $ saved per active participant
0.04%Direct admin cost, % of plan assets
$693.5MNet plan assets, end of year
$373,866Average balance per account
Score breakdown
- Employer generosity33.9 / 5068th percentile for employer $ per participant
- Low cost22.8 / 2591th percentile for low admin cost vs. same-size plans
- Employee saving12.4 / 1583th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score72 / 100 · Grade B
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 68th |
| Lower admin cost | 91th |
| Employee saving | 83th |
| 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
- Federated Hermes put in about $5,164 per active participant, more than the typical peer ($3,606). 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.
- 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 | $7,503,613 |
| Participant (employee) contributions | $17,618,988 |
| Other contributions (incl. rollovers in) | $1,545,790 |
| Administrative expenses paid from the plan | $239,706 |
| Contract administrator fees | $239,706 |
| Benefits paid out | $43,870,154 |
| Net assets, start / end of year | $608.1M / $693.5M |
| Active participants, start / end of year | 1,445 / 1,461 |
| Participants with account balances | 1,855 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Schneider Downs |
| Employer stock held by plan | $9,587,256 |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company O | $139,425 reported compensation |
| Gyl Financial Synergies, LLC | $65,000 reported compensation |
| Schneider Downs | $34,798 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250917074756NAL0000234289001, received 2025-09-17, EIN 25-1111467, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.