Hankook Tire America Corp. 401(k) Review & Grade
Hankook Tire 401(k) Retirement Plan
Nashville, TNWholesale Trade1,043 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$979Employer $ per active participant
$3,675Employee $ saved per active participant
0.47%Direct admin cost, % of plan assets
$26.3MNet plan assets, end of year
$21,134Average balance per account
Score breakdown
- Employer generosity11.3 / 5023th percentile for employer $ per participant
- Low cost6.3 / 2525th percentile for low admin cost vs. same-size plans
- Employee saving5.0 / 1533th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score30 / 100 · Grade D
This plan vs. peers
Peers: Wholesale Trade plans with 500–2,499 active participants (603 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 23th |
| Lower admin cost | 25th |
| Employee saving | 33th |
| Peers that auto-enroll | 53% |
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Red flags from the filing
Corrective distributions: the plan refunded $13,941 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Hankook Tire America put in about $979 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.
- Direct plan expenses (0.47% 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 | $1,020,890 |
| Participant (employee) contributions | $3,833,312 |
| Other contributions (incl. rollovers in) | $1,955,134 |
| Administrative expenses paid from the plan | $109,857 |
| Investment advisory & management fees | $31,238 |
| Benefits paid out | $3,999,852 |
| Net assets, start / end of year | $20.5M / $26.3M |
| Active participants, start / end of year | 1,019 / 1,067 |
| Participants with account balances | 1,243 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Klichs LLP |
Largest service providers (Schedule C)
| Adp, Inc. | $78,619 reported compensation |
| Morgan Stanley Smith Barney | $31,238 reported compensation |
| Adp Broker-Dealer | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015062847NAL0005338384001, received 2025-10-15, EIN 13-3090091, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.