Hit Promotional Products, Inc. 401(k) Review & Grade
Hit Promotional Products, Inc. Retirement Plan
Largo, FLManufacturing1,276 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$470Employer $ per active participant
$2,350Employee $ saved per active participant
0.70%Direct admin cost, % of plan assets
$30.7MNet plan assets, end of year
$29,110Average balance per account
Score breakdown
- Employer generosity3.2 / 506th percentile for employer $ per participant
- Low cost3.2 / 2513th percentile for low admin cost vs. same-size plans
- Employee saving2.3 / 1516th percentile for employee $ per participant
- Plan features0 / 10No auto-enrollment or default investment reported
- Red-flag deductions-13 pts2 issues reported on the filing
Total score0 / 100 · Grade F
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 6th |
| Lower admin cost | 13th |
| Employee saving | 16th |
| Peers that auto-enroll | 59% |
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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 ($2,741 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $91,575 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Hit Promotional Products put in about $470 per active participant, below the typical peer ($2,320). 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 (0.70% 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 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 | $599,860 |
| Participant (employee) contributions | $2,999,231 |
| Other contributions (incl. rollovers in) | $237,414 |
| Administrative expenses paid from the plan | $194,760 |
| Benefits paid out | $1,570,110 |
| Net assets, start / end of year | $25.1M / $30.7M |
| Active participants, start / end of year | 1,285 / 1,267 |
| Participants with account balances | 1,054 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Prida, Guida & Perez, P.A. |
Largest service providers (Schedule C)
| Raymond James Fsa Inc. | $95,852 reported compensation |
| John Hancock Life Insurance (USA) | $23,930 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013121324NAL0001283185001, received 2025-10-13, EIN 59-2095421, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.