Hallkeen Management, Inc. 401(k) Review & Grade
Hallkeen Management, Inc. 401(k) Retirement Plan
Norwood, MAReal Estate & Rental1,043 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$291Employer $ per active participant
$2,654Employee $ saved per active participant
1.18%Direct admin cost, % of plan assets
$27.2MNet plan assets, end of year
$18,743Average balance per account
Score breakdown
- Employer generosity5.9 / 5012th percentile for employer $ per participant
- Low cost1.2 / 255th percentile for low admin cost vs. same-size plans
- Employee saving5.5 / 1537th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score20 / 100 · Grade F
This plan vs. peers
Peers: Real Estate & Rental plans with 500–2,499 active participants (291 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 12th |
| Lower admin cost | 5th |
| Employee saving | 37th |
| Peers that auto-enroll | 47% |
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Red flags from the filing
Corrective distributions: the plan refunded $43,182 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Hallkeen Management put in about $291 per active participant, below the typical peer ($1,279). 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 (1.18% 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 | $303,805 |
| Participant (employee) contributions | $2,768,164 |
| Other contributions (incl. rollovers in) | $332,002 |
| Administrative expenses paid from the plan | $302,692 |
| Contract administrator fees | $97,607 |
| Investment advisory & management fees | $50,745 |
| Benefits paid out | $3,173,450 |
| Net assets, start / end of year | $24.1M / $27.2M |
| Active participants, start / end of year | 1,015 / 1,071 |
| Participants with account balances | 1,451 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Gray, Gray & Gray, LLP |
Largest service providers (Schedule C)
| Transamerica Financial Life Insuran | $137,340 reported compensation |
| The Angell Pension Group, Inc | $97,607 reported compensation |
| Merrill Lynch Life Agency, Inc. | $50,745 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251010160354NAL0013487104001, received 2025-10-10, EIN 04-3097814, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.