Heritage Tractor, Inc. 401(k) Review & Grade
Heritage Tractor 401(k) Plan
Baldwin City, KSWholesale Trade708 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,626Employer $ per active participant
$4,116Employee $ saved per active participant
0.29%Direct admin cost, % of plan assets
$61.4MNet plan assets, end of year
$80,584Average balance per account
Score breakdown
- Employer generosity22.3 / 5045th percentile for employer $ per participant
- Low cost10.5 / 2542th percentile for low admin cost vs. same-size plans
- Employee saving6.2 / 1541th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score42 / 100 · Grade D
This plan vs. peers
Peers: Wholesale Trade plans with 500–2,499 active participants (603 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 45th |
| Lower admin cost | 42th |
| Employee saving | 41th |
| Peers that auto-enroll | 53% |
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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 Tractor put in about $1,626 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.
- 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 | $1,150,952 |
| Participant (employee) contributions | $2,914,012 |
| Other contributions (incl. rollovers in) | $185,098 |
| Administrative expenses paid from the plan | $123,247 |
| Contract administrator fees | $123,247 |
| Benefits paid out | $6,302,647 |
| Net assets, start / end of year | $24.3M / $61.4M |
| Active participants, start / end of year | 729 / 687 |
| Participants with account balances | 762 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Kcoe Isom, LLP |
Largest service providers (Schedule C)
| Mariner, LLC | $53,535 reported compensation |
| The Vanguard Group | $51,614 reported compensation |
| Erisa Services Midwest LLC | $28,164 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015115234NAL0002358803001, received 2025-10-15, EIN 48-1194280, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.