Hawaiian Electric Industries, Inc. 401(k) Review & Grade
Hawaiian Electric Industries Retirement Savings Plan
Honolulu, HIManagement of Companies2,710 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,774Employer $ per active participant
$11,819Employee $ saved per active participant
0.05%Direct admin cost, % of plan assets
$780.7MNet plan assets, end of year
$251,823Average balance per account
Score breakdown
- Employer generosity18.6 / 5037th percentile for employer $ per participant
- Low cost19.1 / 2576th percentile for low admin cost vs. same-size plans
- Employee saving13.2 / 1588th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score51 / 100 · Grade C
This plan vs. peers
Peers: Management of Companies plans with 2,500–9,999 active participants (60 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 37th |
| Lower admin cost | 76th |
| Employee saving | 88th |
| Peers that auto-enroll | 58% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($417 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- Hawaiian Electric Industries put in about $2,774 per active participant, below the typical peer ($3,455). 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.
- The plan reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- 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 | $7,518,855 |
| Participant (employee) contributions | $32,028,739 |
| Other contributions (incl. rollovers in) | $1,677,940 |
| Administrative expenses paid from the plan | $399,482 |
| Investment advisory & management fees | $69,366 |
| Benefits paid out | $52,963,391 |
| Net assets, start / end of year | $684.8M / $780.7M |
| Active participants, start / end of year | 2,732 / 2,688 |
| Participants with account balances | 3,100 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Accuity LLP |
Largest service providers (Schedule C)
| Accuity LLP | $90,576 reported compensation |
| Sageview Advisory Group, LLC | $64,745 reported compensation |
| Trucker Huss | $29,014 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015211914NAL0002900147001, received 2025-10-15, EIN 99-0208097, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.