The H. T. Hackney Company 401(k) Review & Grade
The H.T. Hackney Co. Employees Profit Sharing Retirement Plan and Trust
Knoxville, TNWholesale Trade3,987 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$537Employer $ per active participant
$1,389Employee $ saved per active participant
0.21%Direct admin cost, % of plan assets
$125.3MNet plan assets, end of year
$57,807Average balance per account
Score breakdown
- Employer generosity4.4 / 509th percentile for employer $ per participant
- Low cost8.1 / 2533th percentile for low admin cost vs. same-size plans
- Employee saving1.0 / 157th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score4 / 100 · Grade F
This plan vs. peers
Peers: Wholesale Trade plans with 2,500–9,999 active participants (103 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 9th |
| Lower admin cost | 33th |
| Employee saving | 7th |
| Peers that auto-enroll | 62% |
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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 ($112,418 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $76,737 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- H. T. Hackney put in about $537 per active participant, below the typical peer ($2,459). 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 (0.21% of assets) are well above similar-size plans (0.12%). 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 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 | $2,140,833 |
| Participant (employee) contributions | $5,539,600 |
| Other contributions (incl. rollovers in) | $661,880 |
| Administrative expenses paid from the plan | $260,767 |
| Investment advisory & management fees | $169,214 |
| Benefits paid out | $16,613,223 |
| Net assets, start / end of year | $120.4M / $125.3M |
| Active participants, start / end of year | 3,128 / 4,846 |
| Participants with account balances | 2,168 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Pugh Cpa's |
Largest service providers (Schedule C)
| Rather & Kittrell Inc | $127,400 reported compensation |
| Fidelity Investments Institutional | $91,553 reported compensation |
| Strategic Advisors, Inc. | $10,688 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013074500NAL0002095442001, received 2025-10-13, EIN 62-0222535, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.