Hyland Software, Inc. 401(k) Review & Grade
Hyland Software 401(k) Plan
Westlake, OHInformation2,329 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$3,561Employer $ per active participant
$11,945Employee $ saved per active participant
0.10%Direct admin cost, % of plan assets
$512.0MNet plan assets, end of year
$154,971Average balance per account
Score breakdown
- Employer generosity31.1 / 5062th percentile for employer $ per participant
- Low cost18.3 / 2573th percentile for low admin cost vs. same-size plans
- Employee saving10.7 / 1571th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score63 / 100 · Grade B
This plan vs. peers
Peers: Information plans with 500–2,499 active participants (310 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 62th |
| Lower admin cost | 73th |
| Employee saving | 71th |
| 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
- Hyland Software put in about $3,561 per active participant, more than the typical peer ($2,829). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- 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.
- 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 | $8,293,428 |
| Participant (employee) contributions | $27,820,798 |
| Other contributions (incl. rollovers in) | $1,463,523 |
| Administrative expenses paid from the plan | $504,049 |
| Other admin expenses | $504,049 |
| Benefits paid out | $49,106,073 |
| Net assets, start / end of year | $455.0M / $512.0M |
| Active participants, start / end of year | 2,434 / 2,224 |
| Participants with account balances | 3,304 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Maloney + Novotny LLC |
Largest service providers (Schedule C)
| The Vanguard Group, Inc. | $233,693 reported compensation |
| Creative Planning | $144,964 reported compensation |
| Gallagher Fiduciary Advisors LLC | $74,977 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251003101521NAL0001259857001, received 2025-10-03, EIN 34-1699247, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.