Hanger, Inc. 401(k) Review & Grade
Hanger, Inc. 401(k) Savings Plan
Austin, TXHealth Care & Social Assistance6,451 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,771Employer $ per active participant
$6,652Employee $ saved per active participant
0.12%Direct admin cost, % of plan assets
$709.2MNet plan assets, end of year
$77,114Average balance per account
Score breakdown
- Employer generosity33.0 / 5066th percentile for employer $ per participant
- Low cost12.7 / 2551th percentile for low admin cost vs. same-size plans
- Employee saving12.8 / 1586th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score49 / 100 · Grade C
This plan vs. peers
Peers: Health Care & Social Assistance plans with 2,500–9,999 active participants (312 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 66th |
| Lower admin cost | 51th |
| Employee saving | 86th |
| Peers that auto-enroll | 38% |
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Red flags from the filing
Benefits not paid when due: the plan reported failing to pay some benefits on time.
Corrective distributions: the plan refunded $1,634 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Hanger put in about $1,771 per active participant, more than the typical peer ($800). 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 | $11,423,550 |
| Participant (employee) contributions | $42,910,415 |
| Other contributions (incl. rollovers in) | $9,727,770 |
| Administrative expenses paid from the plan | $786,248 |
| Contract administrator fees | $900 |
| Investment advisory & management fees | $90,029 |
| Other admin expenses | $171,981 |
| Benefits paid out | $48,846,150 |
| Net assets, start / end of year | $601.2M / $709.2M |
| Active participants, start / end of year | 6,055 / 6,847 |
| Participants with account balances | 9,197 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Weaver and Tidwell, LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $503,388 reported compensation |
| Morgan Stanley | $169,291 reported compensation |
| Strategic Advisors, Inc. | $90,029 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251006134318NAL0003484209001, received 2025-10-06, EIN 84-0904275, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.