H Mart Inc. 401(k) Review & Grade
H Mart 401(k) Plan
Lyndhurst, NJRetail Trade3,860 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$711Employer $ per active participant
$1,270Employee $ saved per active participant
0.78%Direct admin cost, % of plan assets
$22.7MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity26.1 / 5052th percentile for employer $ per participant
- Low cost1.7 / 257th percentile for low admin cost vs. same-size plans
- Employee saving4.8 / 1532th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score23 / 100 · Grade F
This plan vs. peers
Peers: Retail Trade plans with 2,500–9,999 active participants (183 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 52th |
| Lower admin cost | 7th |
| Employee saving | 32th |
| Peers that auto-enroll | 42% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($4,458,765 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $215,977 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- H Mart put in about $711 per active participant, more than the typical peer ($650). 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.
- Direct plan expenses (0.78% of assets) are well above similar-size plans (0.12%). Check your annual fee disclosure, choose low-cost index funds if you can, and think about whether savings beyond the match belong in an IRA.
- The plan reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- 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 | $2,746,288 |
| Participant (employee) contributions | $4,904,015 |
| Other contributions (incl. rollovers in) | $51,093 |
| Administrative expenses paid from the plan | $141,824 |
| Other admin expenses | $141,824 |
| Benefits paid out | $681,908 |
| Net assets, start / end of year | $13.8M / $22.7M |
| Active participants, start / end of year | 3,972 / 3,748 |
| Participants with account balances | 991 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Lee CPA Audit Group |
Largest service providers (Schedule C)
| Allmerits Asset, LLC | $59,412 reported compensation |
| Nationwide | $58,093 reported compensation |
| Proaccount | $28,918 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250930084054NAL0012983600001, received 2025-09-30, EIN 26-3957673, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.