Hightower Holding, LLC 401(k) Review & Grade
Hightower 401(k) Plan
Chicago, ILFinance & Insurance1,546 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$4,889Employer $ per active participant
$13,800Employee $ saved per active participant
0.01%Direct admin cost, % of plan assets
$206.7MNet plan assets, end of year
$131,599Average balance per account
Score breakdown
- Employer generosity32.7 / 5065th percentile for employer $ per participant
- Low cost24.3 / 2597th percentile for low admin cost vs. same-size plans
- Employee saving13.1 / 1587th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score70 / 100 · Grade B
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 65th |
| Lower admin cost | 97th |
| Employee saving | 87th |
| Peers that auto-enroll | 62% |
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Red flags from the filing
Corrective distributions: the plan refunded $1,062 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Hightower Holding put in about $4,889 per active participant, more than the typical peer ($3,606). 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 | $7,558,541 |
| Participant (employee) contributions | $21,335,557 |
| Other contributions (incl. rollovers in) | $14,608,912 |
| Administrative expenses paid from the plan | $21,075 |
| Benefits paid out | $13,531,763 |
| Net assets, start / end of year | $151.7M / $206.7M |
| Active participants, start / end of year | 1,542 / 1,550 |
| Participants with account balances | 1,571 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Deloitte & Touche LLP |
Largest service providers (Schedule C)
| Transamerica Retirement Solutions | $21,075 reported compensation |
| National Financial Services | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015200137NAL0007232288002, received 2025-10-15, EIN 26-2270729, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.