Hanon Systems USA, LLC 401(k) Review & Grade
Hanon Systems Alabama Corp. Retirement Plan
Shorter, ALManufacturing528 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,210Employer $ per active participant
$3,034Employee $ saved per active participant
0.07%Direct admin cost, % of plan assets
$12.4MNet plan assets, end of year
$35,699Average balance per account
Score breakdown
- Employer generosity11.4 / 5023th percentile for employer $ per participant
- Low cost20.4 / 2582th percentile for low admin cost vs. same-size plans
- Employee saving3.5 / 1523th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score38 / 100 · Grade D
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 23th |
| Lower admin cost | 82th |
| Employee saving | 23th |
| Peers that auto-enroll | 59% |
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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
- Hanon Systems USA put in about $1,210 per active participant, below the typical peer ($2,320). 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 | $638,096 |
| Participant (employee) contributions | $1,600,272 |
| Other contributions (incl. rollovers in) | $68,924 |
| Administrative expenses paid from the plan | $7,775 |
| Benefits paid out | $1,534,805 |
| Net assets, start / end of year | $10.0M / $12.4M |
| Active participants, start / end of year | 491 / 564 |
| Participants with account balances | 346 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | GJC Cpa's & Advisors |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $7,775 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20260917141415NAL0004387889001, received 2026-09-17, EIN 82-0589188, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.