Heritage Operations Group, LLC 401(k) Review & Grade
Heritage Operations Group, LLC Retirement Savings Plan
Bloomington, ILHealth Care & Social Assistance614 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$62Employer $ per active participant
$2,112Employee $ saved per active participant
0.80%Direct admin cost, % of plan assets
$20.8MNet plan assets, end of year
$22,850Average balance per account
Score breakdown
- Employer generosity6.5 / 5013th percentile for employer $ per participant
- Low cost2.5 / 2510th percentile for low admin cost vs. same-size plans
- Employee saving6.4 / 1543th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score25 / 100 · Grade F
This plan vs. peers
Peers: Health Care & Social Assistance plans with 500–2,499 active participants (1,427 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 13th |
| Lower admin cost | 10th |
| Employee saving | 43th |
| Peers that auto-enroll | 36% |
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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
- Heritage Operations Group put in about $62 per active participant, below the typical peer ($976). 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 (0.80% 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.
- 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 | $38,115 |
| Participant (employee) contributions | $1,295,624 |
| Other contributions (incl. rollovers in) | $3,518 |
| Administrative expenses paid from the plan | $176,477 |
| Investment advisory & management fees | $32,500 |
| Benefits paid out | $5,943,776 |
| Net assets, start / end of year | $23.3M / $20.8M |
| Active participants, start / end of year | 660 / 567 |
| Participants with account balances | 912 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | MCK, Cpas & Advisors |
Largest service providers (Schedule C)
| Empower Annuity Ins Co of America | $73,803 reported compensation |
| Mma Securities LLC | $32,500 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250917143846NAL0001336354001, received 2025-09-17, EIN 20-3902357, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.