HFT Holdings, Inc. 401(k) Review & Grade
Harbor Freight Tools Retirement Savings Plan
Calabasas, CARetail Trade20,947 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,164Employer $ per active participant
$2,049Employee $ saved per active participant
0.17%Direct admin cost, % of plan assets
$368.5MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity37.8 / 5076th percentile for employer $ per participant
- Low cost5.9 / 2524th percentile for low admin cost vs. same-size plans
- Employee saving9.4 / 1563th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-20 pts2 issues reported on the filing
Total score36 / 100 · Grade D
This plan vs. peers
Peers: Retail Trade plans with 10,000+ active participants (124 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 76th |
| Lower admin cost | 24th |
| Employee saving | 63th |
| Peers that auto-enroll | 32% |
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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 ($1,172 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Fraud or dishonesty loss: the plan reported a loss caused by fraud or dishonesty during the year.
What to do if you're in this plan
- HFT Holdings put in about $1,164 per active participant, more than the typical peer ($689). 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 (0.17% of assets) are well above similar-size plans (0.09%). 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 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 | $24,391,148 |
| Participant (employee) contributions | $42,930,495 |
| Other contributions (incl. rollovers in) | $10,879,832 |
| Administrative expenses paid from the plan | $551,429 |
| Contract administrator fees | $522,929 |
| Investment advisory & management fees | $28,500 |
| Benefits paid out | $26,432,604 |
| Net assets, start / end of year | $275.2M / $368.5M |
| Active participants, start / end of year | 20,418 / 21,476 |
| Participants with account balances | 10,121 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Pension Assurance LLP |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $522,522 reported compensation |
| Capfinancial Partners,ll | $28,500 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250522154606NAL0002756771001, received 2025-05-22, EIN 27-2501498, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.