Hadco Construction 401(k) Review & Grade
Hadco Construction 401(k) Plan
Lehi, UTConstruction510 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,711Employer $ per active participant
$3,083Employee $ saved per active participant
0.85%Direct admin cost, % of plan assets
$10.6MNet plan assets, end of year
$23,019Average balance per account
Score breakdown
- Employer generosity25.5 / 5051th percentile for employer $ per participant
- Low cost2.3 / 259th percentile for low admin cost vs. same-size plans
- Employee saving5.6 / 1537th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score40 / 100 · Grade D
This plan vs. peers
Peers: Construction plans with 500–2,499 active participants (498 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 51th |
| Lower admin cost | 9th |
| Employee saving | 37th |
| Peers that auto-enroll | 44% |
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Red flags from the filing
Corrective distributions: the plan refunded $28,009 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Hadco Construction put in about $1,711 per active participant, more than the typical peer ($1,672). 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 (0.85% of assets) are well above similar-size plans (0.23%). 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 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 | $872,413 |
| Participant (employee) contributions | $1,572,410 |
| Other contributions (incl. rollovers in) | $8,455 |
| Administrative expenses paid from the plan | $80,054 |
| Investment advisory & management fees | $52,668 |
| Benefits paid out | $1,222,048 |
| Net assets, start / end of year | $8.3M / $10.6M |
| Active participants, start / end of year | 492 / 528 |
| Participants with account balances | 459 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Larson & Company |
Largest service providers (Schedule C)
| Global Retirement Partners LLC | $36,591 reported compensation |
| Empower Annuity Insurance Company O | $27,386 reported compensation |
| Empower Advisory Group, LLC | $16,077 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013165519NAL0001632049001, received 2025-10-13, EIN 20-1920952, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.