Honor Technology, Inc. 401(k) Review & Grade
Honor Technology, Inc. 401(k) Plan
San Mateo, CAHealth Care & Social Assistance2,694 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$699Employer $ per active participant
$1,504Employee $ saved per active participant
0.33%Direct admin cost, % of plan assets
$38.1MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity24.0 / 5048th percentile for employer $ per participant
- Low cost5.1 / 2520th percentile for low admin cost vs. same-size plans
- Employee saving5.1 / 1534th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score34 / 100 · Grade D
This plan vs. peers
Peers: Health Care & Social Assistance plans with 2,500–9,999 active participants (312 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 48th |
| Lower admin cost | 20th |
| Employee saving | 34th |
| Peers that auto-enroll | 38% |
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Red flags from the filing
Corrective distributions: the plan refunded $2,043 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Honor Technology put in about $699 per active participant, below the typical peer ($800). 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 (0.33% of assets) are well above similar-size plans (0.12%). 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 | $1,881,900 |
| Participant (employee) contributions | $4,052,430 |
| Other contributions (incl. rollovers in) | $1,088,994 |
| Administrative expenses paid from the plan | $126,903 |
| Investment advisory & management fees | $29,996 |
| Other admin expenses | $14,950 |
| Benefits paid out | $13,281,349 |
| Net assets, start / end of year | $39.1M / $38.1M |
| Active participants, start / end of year | 3,290 / 2,098 |
| Participants with account balances | 933 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Pension Assurance LLP |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company | $81,957 reported compensation |
| Northwestern Mutual Wealth Mgmt Co | $29,996 reported compensation |
| World Investment Advisors LLC | $14,950 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250925150940NAL0009334240001, received 2025-09-25, EIN 47-1943214, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.