Heart of America Management, LLC 401(k) Review & Grade
Heart of America 401(k) Plan
Moline, ILAccommodation & Food Services1,150 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$156Employer $ per active participant
$813Employee $ saved per active participant
0.03%Direct admin cost, % of plan assets
$16.1MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity17.3 / 5035th percentile for employer $ per participant
- Low cost23.5 / 2594th percentile for low admin cost vs. same-size plans
- Employee saving7.5 / 1550th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score51 / 100 · Grade C
This plan vs. peers
Peers: Accommodation & Food Services plans with 500–2,499 active participants (458 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 35th |
| Lower admin cost | 94th |
| Employee saving | 50th |
| Peers that auto-enroll | 17% |
Get the monthly 401(k) report card
The best and worst plans, new grades as filings post. One email a month, no spam.
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
- Heart of America Management put in about $156 per active participant, below the typical peer ($266). 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 | $179,474 |
| Participant (employee) contributions | $934,070 |
| Other contributions (incl. rollovers in) | – |
| Administrative expenses paid from the plan | $4,059 |
| Benefits paid out | $2,481,061 |
| Net assets, start / end of year | $15.6M / $16.1M |
| Active participants, start / end of year | 1,167 / 1,132 |
| Participants with account balances | 349 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Bergankdv |
Largest service providers (Schedule C)
| Capfinancial Partners LLC | $18,670 reported compensation |
| Bergan KDV | $7,000 reported compensation |
| Qualified Plan Consultans | $5,467 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251008164251NAL0010184208001, received 2025-10-08, EIN 32-0052825, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.