Henry Rac Holding Corp 401(k) Review & Grade
Henry 401(k) Plan
Rice Lake, WIAgriculture, Forestry, Fishing & Hunting811 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$712Employer $ per active participant
$2,072Employee $ saved per active participant
0.89%Direct admin cost, % of plan assets
$9.2MNet plan assets, end of year
$18,796Average balance per account
Score breakdown
- Employer generosity23.1 / 5046th percentile for employer $ per participant
- Low cost2.0 / 258th percentile for low admin cost vs. same-size plans
- Employee saving7.8 / 1552th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-8 pts2 issues reported on the filing
Total score28 / 100 · Grade F
This plan vs. peers
Peers: Agriculture, Forestry, Fishing & Hunting plans with 500–2,499 active participants (118 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 46th |
| Lower admin cost | 8th |
| Employee saving | 52th |
| Peers that auto-enroll | 36% |
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Red flags from the filing
Auditor disclaimer: the auditor issued a disclaimer of opinion.
Corrective distributions: the plan refunded $18,564 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Henry Rac Holding put in about $712 per active participant, below the typical peer ($774). 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 (0.89% 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.
- 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 | $577,790 |
| Participant (employee) contributions | $1,680,389 |
| Other contributions (incl. rollovers in) | $498,186 |
| Administrative expenses paid from the plan | $69,631 |
| Contract administrator fees | $69,631 |
| Benefits paid out | $664,189 |
| Net assets, start / end of year | $6.4M / $9.2M |
| Active participants, start / end of year | 787 / 835 |
| Participants with account balances | 492 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Hancock & Robinson Cpas |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $69,630 reported compensation |
| Principal Securities Inc | $24,670 reported compensation |
| Wilshire Advisors LLC | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013134119NAL0003076674001, received 2025-10-13, EIN 11-3337304, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.