Horne LLP 401(k) Review & Grade
Horne LLP Profit Sharing Plan
Ridgeland, MSProfessional, Scientific & Technical Services1,421 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$3,251Employer $ per active participant
$5,023Employee $ saved per active participant
0.30%Direct admin cost, % of plan assets
$107.6MNet plan assets, end of year
$56,619Average balance per account
Score breakdown
- Employer generosity26.5 / 5053th percentile for employer $ per participant
- Low cost10.1 / 2540th percentile for low admin cost vs. same-size plans
- Employee saving3.8 / 1525th percentile for employee $ per participant
- Plan features0 / 10No auto-enrollment or default investment reported
- Red-flag deductions-10 pts1 issue reported on the filing
Total score30 / 100 · Grade D
This plan vs. peers
Peers: Professional, Scientific & Technical Services plans with 500–2,499 active participants (1,469 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 53th |
| Lower admin cost | 40th |
| Employee saving | 25th |
| Peers that auto-enroll | 48% |
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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 ($11,070 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
- Horne LLP put in about $3,251 per active participant, more than the typical peer ($3,082). 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 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 | $4,620,061 |
| Participant (employee) contributions | $7,137,318 |
| Other contributions (incl. rollovers in) | $494,331 |
| Administrative expenses paid from the plan | $317,441 |
| Investment advisory & management fees | $317,441 |
| Benefits paid out | $18,755,478 |
| Net assets, start / end of year | $102.9M / $107.6M |
| Active participants, start / end of year | 1,555 / 1,287 |
| Participants with account balances | 1,901 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Borland Benefield, P.C. |
Largest service providers (Schedule C)
| Bam Advisor Services, LLC | $175,000 reported compensation |
| American Trust Company | $142,441 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014132135NAL0004053888001, received 2025-10-14, EIN 20-1941244, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.