Harmon City, Inc. 401(k) Review & Grade
Harmon City, Inc. 401(k) Retirement Savings Plan
West Valley, UTRetail Trade3,940 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$478Employer $ per active participant
$2,033Employee $ saved per active participant
0.38%Direct admin cost, % of plan assets
$97.8MNet plan assets, end of year
$17,703Average balance per account
Score breakdown
- Employer generosity18.4 / 5037th percentile for employer $ per participant
- Low cost4.3 / 2517th percentile for low admin cost vs. same-size plans
- Employee saving7.7 / 1551th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score23 / 100 · Grade F
This plan vs. peers
Peers: Retail Trade plans with 2,500–9,999 active participants (183 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 37th |
| Lower admin cost | 17th |
| Employee saving | 51th |
| Peers that auto-enroll | 42% |
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Red flags from the filing
Benefits not paid when due: the plan reported failing to pay some benefits on time.
What to do if you're in this plan
- Harmon City put in about $478 per active participant, below the typical peer ($650). 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 (0.38% 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.
- 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 | $1,882,997 |
| Participant (employee) contributions | $8,012,290 |
| Other contributions (incl. rollovers in) | $506,842 |
| Administrative expenses paid from the plan | $346,296 |
| Investment advisory & management fees | $118,253 |
| Benefits paid out | $7,696,678 |
| Net assets, start / end of year | $83.5M / $97.8M |
| Active participants, start / end of year | 3,756 / 4,125 |
| Participants with account balances | 5,526 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Squire and Company |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $211,460 reported compensation |
| Soltis Investment Advisors LLC | $110,037 reported compensation |
| Squire and Company | $18,350 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014133519NAL0004095152001, received 2025-10-14, EIN 87-0230875, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.