HCL America Inc 401(k) Review & Grade
HCL America, Inc. 401(k) Plan
Santa Clara, CAProfessional, Scientific & Technical Services20,966 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,628Employer $ per active participant
$6,491Employee $ saved per active participant
0.15%Direct admin cost, % of plan assets
$1.5BNet plan assets, end of year
$83,647Average balance per account
Score breakdown
- Employer generosity21.7 / 5043th percentile for employer $ per participant
- Low cost7.1 / 2528th percentile for low admin cost vs. same-size plans
- Employee saving5.2 / 1535th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score24 / 100 · Grade F
This plan vs. peers
Peers: Professional, Scientific & Technical Services plans with 10,000+ active participants (70 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 43th |
| Lower admin cost | 28th |
| Employee saving | 35th |
| Peers that auto-enroll | 39% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($68,888 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $76,270 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- HCL America put in about $2,628 per active participant, below the typical peer ($2,932). 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 (0.15% of assets) are well above similar-size plans (0.09%). 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 reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- 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 | $55,096,343 |
| Participant (employee) contributions | $136,086,503 |
| Other contributions (incl. rollovers in) | $38,947,333 |
| Administrative expenses paid from the plan | $1,939,463 |
| Contract administrator fees | $1,534,861 |
| Investment advisory & management fees | $404,602 |
| Benefits paid out | $164,768,756 |
| Net assets, start / end of year | $1.1B / $1.5B |
| Active participants, start / end of year | 21,727 / 20,206 |
| Participants with account balances | 17,805 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Silicon Valley Accountacy Corp. |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $1,560,095 reported compensation |
| Ubs Financial SVC Inc | $404,602 reported compensation |
| Silicon Valley Accountancy | $118,920 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20260318090530NAL0003021569001, received 2026-03-18, EIN 77-0205035, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.