Glenn O. Hawbaker, Inc. 401(k) Review & Grade
Glenn O. Hawbaker, Inc. Benefit Plan
State College, PAConstruction974 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$8,456Employer $ per active participant
$5,216Employee $ saved per active participant
0.19%Direct admin cost, % of plan assets
$187.7MNet plan assets, end of year
$152,494Average balance per account
Score breakdown
- Employer generosity48.1 / 5096th percentile for employer $ per participant
- Low cost14.1 / 2557th percentile for low admin cost vs. same-size plans
- Employee saving10.1 / 1567th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score79 / 100 · Grade A
This plan vs. peers
Peers: Construction plans with 500–2,499 active participants (498 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 96th |
| Lower admin cost | 57th |
| Employee saving | 67th |
| Peers that auto-enroll | 44% |
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Red flags from the filing
Corrective distributions: the plan refunded $387 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Glenn O. Hawbaker put in about $8,456 per active participant, more than the typical peer ($1,672). 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.
- 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 | $8,231,809 |
| Participant (employee) contributions | $5,077,605 |
| Other contributions (incl. rollovers in) | $533,365 |
| Administrative expenses paid from the plan | $333,144 |
| Contract administrator fees | $333,144 |
| Benefits paid out | $18,262,529 |
| Net assets, start / end of year | $171.5M / $187.7M |
| Active participants, start / end of year | 956 / 991 |
| Participants with account balances | 1,231 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Mccall Scanlon and Tice, LLC |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $333,143 reported compensation |
| Mma Securities LLC | $116,912 reported compensation |
| Mccall Scanlon & Tice, LLC | $7,500 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251003134430NAL0000837939001, received 2025-10-03, EIN 25-1150293, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.