Hess Corporation 401(k) Review & Grade
Hess Corporation Employees' Savings Plan
Houston, TXManufacturing1,585 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$18,527Employer $ per active participant
$20,661Employee $ saved per active participant
0.01%Direct admin cost, % of plan assets
$1.1BNet plan assets, end of year
$376,337Average balance per account
Score breakdown
- Employer generosity49.9 / 50100th percentile for employer $ per participant
- Low cost24.4 / 2598th percentile for low admin cost vs. same-size plans
- Employee saving15.0 / 15100th percentile for employee $ per participant
- Plan features0 / 10No auto-enrollment or default investment reported
- Red-flag deductions-3 pts1 issue reported on the filing
Total score86 / 100 · Grade A
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 100th |
| Lower admin cost | 98th |
| Employee saving | 100th |
| Peers that auto-enroll | 59% |
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Red flags from the filing
Corrective distributions: the plan refunded $30,240 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Hess put in about $18,527 per active participant, more than the typical peer ($2,320). 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.
- 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 | $29,365,521 |
| Participant (employee) contributions | $32,747,795 |
| Other contributions (incl. rollovers in) | $3,130,220 |
| Administrative expenses paid from the plan | $117,776 |
| Contract administrator fees | $2,400 |
| Other admin expenses | $1,122 |
| Benefits paid out | $88,700,105 |
| Net assets, start / end of year | $1.0B / $1.1B |
| Active participants, start / end of year | 1,607 / 1,563 |
| Participants with account balances | 2,983 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Ernst & Young |
| Employer stock held by plan | $165,798,960 |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $116,654 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250604144901NAL0019386720001, received 2025-06-04, EIN 13-4921002, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.