Horrocks Engineers, Inc. 401(k) Review & Grade
Horrocks Engineers 401(k) Plan
Pleasant Grove, UTProfessional, Scientific & Technical Services881 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,657Employer $ per active participant
$7,804Employee $ saved per active participant
0.39%Direct admin cost, % of plan assets
$72.9MNet plan assets, end of year
$65,704Average balance per account
Score breakdown
- Employer generosity22.0 / 5044th percentile for employer $ per participant
- Low cost7.9 / 2532th percentile for low admin cost vs. same-size plans
- Employee saving6.1 / 1540th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score36 / 100 · Grade D
This plan vs. peers
Peers: Professional, Scientific & Technical Services plans with 500–2,499 active participants (1,469 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 44th |
| Lower admin cost | 32th |
| Employee saving | 40th |
| Peers that auto-enroll | 48% |
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Red flags from the filing
Corrective distributions: the plan refunded $2,928 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Horrocks Engineers put in about $2,657 per active participant, below the typical peer ($3,082). 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 (0.39% 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 | $2,341,153 |
| Participant (employee) contributions | $6,875,622 |
| Other contributions (incl. rollovers in) | $1,591,566 |
| Administrative expenses paid from the plan | $274,491 |
| Investment advisory & management fees | $134,863 |
| Other admin expenses | $13,250 |
| Benefits paid out | $15,545,101 |
| Net assets, start / end of year | $68.5M / $72.9M |
| Active participants, start / end of year | 825 / 937 |
| Participants with account balances | 1,110 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Squire & Co. |
Largest service providers (Schedule C)
| Creative Planning Holdco LLC DBA CR | $134,863 reported compensation |
| Empower Annuity Insurance Company O | $126,378 reported compensation |
| Horrocks Engineers, Inc. | $13,250 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251016115800NAL0013051730001, received 2025-10-16, EIN 87-0296502, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.