P. Hendel Products Partnership 401(k) Review & Grade
Hendel Products Group 401(k) Plan
Lynbrook, NYAccommodation & Food Services1,091 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$538Employer $ per active participant
$975Employee $ saved per active participant
1.51%Direct admin cost, % of plan assets
$4.6MNet plan assets, end of year
$5,113Average balance per account
Score breakdown
- Employer generosity36.3 / 5073th percentile for employer $ per participant
- Low cost0.6 / 253th percentile for low admin cost vs. same-size plans
- Employee saving9.0 / 1560th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score56 / 100 · Grade C
This plan vs. peers
Peers: Accommodation & Food Services plans with 500–2,499 active participants (458 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 73th |
| Lower admin cost | 3th |
| Employee saving | 60th |
| Peers that auto-enroll | 17% |
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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
- P. Hendel Products Partnership put in about $538 per active participant, more than the typical peer ($266). 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.
- Direct plan expenses (1.51% 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.
- 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 | $586,594 |
| Participant (employee) contributions | $1,063,359 |
| Other contributions (incl. rollovers in) | – |
| Administrative expenses paid from the plan | $57,373 |
| Contract administrator fees | $36,547 |
| Investment advisory & management fees | $18,602 |
| Benefits paid out | $405,905 |
| Net assets, start / end of year | $3.0M / $4.6M |
| Active participants, start / end of year | 1,087 / 1,095 |
| Participants with account balances | 906 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Laufer LLP |
Largest service providers (Schedule C)
| Ameritas Life Insurance Corp | $36,548 reported compensation |
| NFP Retirement, Inc. | $18,602 reported compensation |
| Charles Schwab Bank | $2,224 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013161812NAL0003648370001, received 2025-10-13, EIN 11-3125928, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.