Hensley & Company 401(k) Review & Grade
Hensley & Company Profit Sharing Plan and Trust
Phoenix, AZWholesale Trade1,476 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,306Employer $ per active participant
$2,217Employee $ saved per active participant
0.04%Direct admin cost, % of plan assets
$76.1MNet plan assets, end of year
$69,028Average balance per account
Score breakdown
- Employer generosity17.1 / 5034th percentile for employer $ per participant
- Low cost22.9 / 2591th percentile for low admin cost vs. same-size plans
- Employee saving2.0 / 1513th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score35 / 100 · Grade D
This plan vs. peers
Peers: Wholesale Trade plans with 500–2,499 active participants (603 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 34th |
| Lower admin cost | 91th |
| Employee saving | 13th |
| Peers that auto-enroll | 53% |
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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 ($98,613 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
- Hensley & put in about $1,306 per active participant, below the typical peer ($1,792). 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.
- 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 | $1,927,780 |
| Participant (employee) contributions | $3,271,874 |
| Other contributions (incl. rollovers in) | $192,545 |
| Administrative expenses paid from the plan | $27,800 |
| Contract administrator fees | $27,800 |
| Benefits paid out | $17,859,604 |
| Net assets, start / end of year | $78.4M / $76.1M |
| Active participants, start / end of year | 1,573 / 1,379 |
| Participants with account balances | 1,102 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Adamsbrown, LLC |
Largest service providers (Schedule C)
| Cpi Qualified Plan Consultants, Inc | $27,800 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015115728NAL0002365427001, received 2025-10-15, EIN 86-0255475, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.