Hormann LLC 401(k) Review & Grade
Hormann LLC Employees Salary Savings Plan
Montgomery, ILManufacturing669 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,688Employer $ per active participant
$3,806Employee $ saved per active participant
0.36%Direct admin cost, % of plan assets
$29.0MNet plan assets, end of year
$31,515Average balance per account
Score breakdown
- Employer generosity17.6 / 5035th percentile for employer $ per participant
- Low cost8.6 / 2534th percentile for low admin cost vs. same-size plans
- Employee saving5.1 / 1534th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score41 / 100 · Grade D
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 35th |
| Lower admin cost | 34th |
| Employee saving | 34th |
| Peers that auto-enroll | 59% |
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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
- Hormann put in about $1,688 per active participant, below the typical peer ($2,320). 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.
- Direct plan expenses (0.36% of assets) are well above similar-size plans (0.23%). 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 auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- 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 | $1,129,149 |
| Participant (employee) contributions | $2,546,024 |
| Other contributions (incl. rollovers in) | $601,627 |
| Administrative expenses paid from the plan | $94,540 |
| Investment advisory & management fees | $40,403 |
| Benefits paid out | $2,097,741 |
| Net assets, start / end of year | $24.1M / $29.0M |
| Active participants, start / end of year | 643 / 695 |
| Participants with account balances | 919 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Rodl Langford De Kock LLP |
Largest service providers (Schedule C)
| Alliance Pension Consultants | $54,137 reported compensation |
| FSC Securities Corp | $27,862 reported compensation |
| Leafhouse Financial Advisors | $12,543 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20260908085151NAL0002792177001, received 2026-09-08, EIN 20-4330294, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.