Hire Right 401(k) Review & Grade
Hireright 401(k) Plan
Nashville, TNAdministrative, Support & Staffing Services898 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,512Employer $ per active participant
$5,597Employee $ saved per active participant
0.12%Direct admin cost, % of plan assets
$226.8MNet plan assets, end of year
$95,319Average balance per account
Score breakdown
- Employer generosity42.3 / 5084th percentile for employer $ per participant
- Low cost17.3 / 2569th percentile for low admin cost vs. same-size plans
- Employee saving12.2 / 1581th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score65 / 100 · Grade B
This plan vs. peers
Peers: Administrative, Support & Staffing Services plans with 500–2,499 active participants (401 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 84th |
| Lower admin cost | 69th |
| Employee saving | 81th |
| Peers that auto-enroll | 27% |
Get the monthly 401(k) report card
The best and worst plans, new grades as filings post. One email a month, no spam.
Red flags from the filing
Benefits not paid when due: the plan reported failing to pay some benefits on time.
What to do if you're in this plan
- Hire Right put in about $2,512 per active participant, more than the typical peer ($712). 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 | $2,257,063 |
| Participant (employee) contributions | $5,028,718 |
| Other contributions (incl. rollovers in) | $488,534 |
| Administrative expenses paid from the plan | $267,192 |
| Benefits paid out | $24,236,669 |
| Net assets, start / end of year | $210.6M / $226.8M |
| Active participants, start / end of year | 886 / 911 |
| Participants with account balances | 2,379 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Baker Tilly US, LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $246,492 reported compensation |
| Baker Tilly | $20,700 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014132951NAL0001422467001, received 2025-10-14, EIN 81-5023164, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.