The Hanor Company of Wisconsin, LLC 401(k) Review & Grade
The Hanor Company of Wisconsin, LLC 401(k) Plan
Enid, OKAgriculture, Forestry, Fishing & Hunting530 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$315Employer $ per active participant
$1,239Employee $ saved per active participant
0.03%Direct admin cost, % of plan assets
$19.6MNet plan assets, end of year
$65,852Average balance per account
Score breakdown
- Employer generosity11.1 / 5022th percentile for employer $ per participant
- Low cost23.4 / 2594th percentile for low admin cost vs. same-size plans
- Employee saving5.3 / 1535th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score40 / 100 · Grade D
This plan vs. peers
Peers: Agriculture, Forestry, Fishing & Hunting plans with 500–2,499 active participants (118 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 22th |
| Lower admin cost | 94th |
| Employee saving | 35th |
| Peers that auto-enroll | 36% |
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Red flags from the filing
Corrective distributions: the plan refunded $50,563 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Hanor Company of Wisconsin put in about $315 per active participant, below the typical peer ($774). 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.
- 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 | $167,233 |
| Participant (employee) contributions | $657,091 |
| Other contributions (incl. rollovers in) | $11,109 |
| Administrative expenses paid from the plan | $5,169 |
| Contract administrator fees | $5,169 |
| Benefits paid out | $3,403,806 |
| Net assets, start / end of year | $19.9M / $19.6M |
| Active participants, start / end of year | 519 / 542 |
| Participants with account balances | 297 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Honkamp, P.C. |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $5,169 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014111805NAL0005590050001, received 2025-10-14, EIN 20-1776074, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.