HP Inc. 401(k) Review & Grade
HP Inc. 401(k) Plan
Austin, TXManufacturing14,765 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$4,381Employer $ per active participant
$12,717Employee $ saved per active participant
0.03%Direct admin cost, % of plan assets
$10.3BNet plan assets, end of year
$300,027Average balance per account
Score breakdown
- Employer generosity18.7 / 5037th percentile for employer $ per participant
- Low cost21.3 / 2585th percentile for low admin cost vs. same-size plans
- Employee saving10.9 / 1573th percentile for employee $ per participant
- Plan features7 / 10Auto-enrollment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score45 / 100 · Grade C
This plan vs. peers
Peers: Manufacturing plans with 10,000+ active participants (151 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 37th |
| Lower admin cost | 85th |
| Employee saving | 73th |
| Peers that auto-enroll | 69% |
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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 ($278,542 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $39,316 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- HP put in about $4,381 per active participant, below the typical peer ($5,480). 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.
- 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 | $64,687,398 |
| Participant (employee) contributions | $187,768,653 |
| Other contributions (incl. rollovers in) | $28,798,641 |
| Administrative expenses paid from the plan | $2,754,376 |
| Contract administrator fees | $301,715 |
| Investment advisory & management fees | $1,077,839 |
| Other admin expenses | $249,000 |
| Benefits paid out | $946,024,258 |
| Net assets, start / end of year | $9.7B / $10.3B |
| Active participants, start / end of year | 14,722 / 14,808 |
| Participants with account balances | 34,268 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Ernst & Young |
| Employer stock held by plan | $137,046,685 |
Largest service providers (Schedule C)
| Fid Inv Instl Ops Co | $833,246 reported compensation |
| Strategic Advisors | $681,752 reported compensation |
| Blackrock Institutional Trust | $296,087 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250721125115NAL0001918944001, received 2025-07-21, EIN 94-1081436, plan #004, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.