Heartland Home Services, Inc. 401(k) Review & Grade
Heartland Home Services, Inc. 401(k) Plan
Grand Rapids, MIConstruction1,623 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,363Employer $ per active participant
$5,887Employee $ saved per active participant
0.37%Direct admin cost, % of plan assets
$79.8MNet plan assets, end of year
$37,691Average balance per account
Score breakdown
- Employer generosity32.1 / 5064th percentile for employer $ per participant
- Low cost8.4 / 2533th percentile for low admin cost vs. same-size plans
- Employee saving11.0 / 1573th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score52 / 100 · Grade C
This plan vs. peers
Peers: Construction plans with 500–2,499 active participants (498 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 64th |
| Lower admin cost | 33th |
| Employee saving | 73th |
| Peers that auto-enroll | 44% |
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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 ($73,701 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- Heartland Home Services put in about $2,363 per active participant, more than the typical peer ($1,672). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- 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 (0.37% 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.
- 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 | $3,835,500 |
| Participant (employee) contributions | $9,554,581 |
| Other contributions (incl. rollovers in) | $999,011 |
| Administrative expenses paid from the plan | $218,790 |
| Investment advisory & management fees | $50,247 |
| Benefits paid out | $6,962,965 |
| Net assets, start / end of year | $39.6M / $79.8M |
| Active participants, start / end of year | 1,164 / 2,082 |
| Participants with account balances | 2,116 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Assurance Dimensions |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $168,543 reported compensation |
| Towers Watson Investment Services | $46,036 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015150200NAL0005228545001, received 2025-10-15, EIN 82-3319060, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.