Hardesty & Hanover Holding,llc 401(k) Review & Grade
Hardesty & Hanover Employees' 401(k) Profit Sharing Plan
New York, NYProfessional, Scientific & Technical Services646 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$3,782Employer $ per active participant
$10,270Employee $ saved per active participant
0.17%Direct admin cost, % of plan assets
$138.5MNet plan assets, end of year
$209,151Average balance per account
Score breakdown
- Employer generosity30.5 / 5061th percentile for employer $ per participant
- Low cost15.0 / 2560th percentile for low admin cost vs. same-size plans
- Employee saving9.2 / 1561th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score55 / 100 · Grade C
This plan vs. peers
Peers: Professional, Scientific & Technical Services plans with 500–2,499 active participants (1,469 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 61th |
| Lower admin cost | 60th |
| Employee saving | 61th |
| Peers that auto-enroll | 48% |
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Red flags from the filing
Corrective distributions: the plan refunded $1,028 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Hardesty & Hanover Holding,llc put in about $3,782 per active participant, more than the typical peer ($3,082). 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 | $2,441,400 |
| Participant (employee) contributions | $6,629,224 |
| Other contributions (incl. rollovers in) | $1,268,805 |
| Administrative expenses paid from the plan | $212,365 |
| Investment advisory & management fees | $122,850 |
| Other admin expenses | $271 |
| Benefits paid out | $6,425,073 |
| Net assets, start / end of year | $116.1M / $138.5M |
| Active participants, start / end of year | 658 / 633 |
| Participants with account balances | 662 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Grassi & Co. |
Largest service providers (Schedule C)
| Global Retirement Partners LLC | $111,803 reported compensation |
| Empower Life & Annuity Insurance Co | $89,244 reported compensation |
| Empower Advisory Group, LLC | $11,047 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013101354NAL0002442050001, received 2025-10-13, EIN 45-2750375, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.