Hooker Furnishings Corporation 401(k) Review & Grade
Hooker Furnishings Corporation Employees Savings Plan
Martinsville, VAManufacturing980 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,796Employer $ per active participant
$3,583Employee $ saved per active participant
0.14%Direct admin cost, % of plan assets
$62.5MNet plan assets, end of year
$61,747Average balance per account
Score breakdown
- Employer generosity18.9 / 5038th percentile for employer $ per participant
- Low cost16.6 / 2566th percentile for low admin cost vs. same-size plans
- Employee saving4.7 / 1531th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score50 / 100 · Grade C
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 38th |
| Lower admin cost | 66th |
| Employee saving | 31th |
| Peers that auto-enroll | 59% |
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
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Hooker Furnishings put in about $1,796 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.
- 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.
- 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 | $1,758,733 |
| Participant (employee) contributions | $3,509,827 |
| Other contributions (incl. rollovers in) | $160,375 |
| Administrative expenses paid from the plan | $82,177 |
| Investment advisory & management fees | $45,000 |
| Benefits paid out | $7,455,023 |
| Net assets, start / end of year | $59.0M / $62.5M |
| Active participants, start / end of year | 1,033 / 926 |
| Participants with account balances | 1,013 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Smith Leonard PLLC |
| Employer stock held by plan | $1,118,873 |
Largest service providers (Schedule C)
| Mma Securities LLC | $45,000 reported compensation |
| Jpmorgan Invest Holdings LLC | $37,177 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014093953NAL0001186451001, received 2025-10-14, EIN 54-0251350, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.