Hitt Contracting Inc. 401(k) Review & Grade
Hitt Contracting Inc. 401(k) Savings & Profit Sharing Plan
Falls Church, VAConstruction3,054 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,692Employer $ per active participant
$7,560Employee $ saved per active participant
0.11%Direct admin cost, % of plan assets
$249.2MNet plan assets, end of year
$76,323Average balance per account
Score breakdown
- Employer generosity30.7 / 5061th percentile for employer $ per participant
- Low cost13.8 / 2555th percentile for low admin cost vs. same-size plans
- Employee saving11.2 / 1575th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score56 / 100 · Grade C
This plan vs. peers
Peers: Construction plans with 2,500–9,999 active participants (76 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 61th |
| Lower admin cost | 55th |
| Employee saving | 75th |
| Peers that auto-enroll | 57% |
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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 ($1,058,059 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- Hitt Contracting put in about $2,692 per active participant, more than the typical peer ($1,965). 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.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- 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 | $8,221,424 |
| Participant (employee) contributions | $23,090,716 |
| Other contributions (incl. rollovers in) | $2,421,972 |
| Administrative expenses paid from the plan | $250,684 |
| Contract administrator fees | $37,577 |
| Investment advisory & management fees | $30,000 |
| Other admin expenses | $10,530 |
| Benefits paid out | $27,441,041 |
| Net assets, start / end of year | $218.9M / $249.2M |
| Active participants, start / end of year | 2,343 / 3,766 |
| Participants with account balances | 3,265 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Baker Tilly US, LLP |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company | $165,529 reported compensation |
| Baker Tilly US LLP | $44,625 reported compensation |
| Kestra Advisory Services LLC | $40,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015103201NAL0008754578001, received 2025-10-15, EIN 54-0248192, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.