Hanchett Paper Company 401(k) Review & Grade
Shorr Packaging Corp. Employees Profit Sharing & 401k Plan
Aurora, ILWholesale Trade600 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$894Employer $ per active participant
$8,549Employee $ saved per active participant
0.06%Direct admin cost, % of plan assets
$75.7MNet plan assets, end of year
$106,586Average balance per account
Score breakdown
- Employer generosity10.0 / 5020th percentile for employer $ per participant
- Low cost21.4 / 2586th percentile for low admin cost vs. same-size plans
- Employee saving13.3 / 1589th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score55 / 100 · Grade C
This plan vs. peers
Peers: Wholesale Trade plans with 500–2,499 active participants (603 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 20th |
| Lower admin cost | 86th |
| Employee saving | 89th |
| Peers that auto-enroll | 53% |
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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
- Hanchett Paper put in about $894 per active participant, below the typical peer ($1,792). 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 | $535,896 |
| Participant (employee) contributions | $5,125,080 |
| Other contributions (incl. rollovers in) | $1,756,027 |
| Administrative expenses paid from the plan | $39,275 |
| Investment advisory & management fees | $14,256 |
| Benefits paid out | $8,063,008 |
| Net assets, start / end of year | $66.7M / $75.7M |
| Active participants, start / end of year | 575 / 624 |
| Participants with account balances | 710 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Forvis LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $25,019 reported compensation |
| Strategic Advisors, Inc. | $14,256 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20260701155036NAL0017673744001, received 2026-07-01, EIN 36-2040680, plan #001, plan year 2024-10-01 to 2025-09-30. Verify at efast.dol.gov.