Hy-Line International 401(k) Review & Grade
Hy-Line International 401(k) Employee Retirement and Savings Plan
W Des Moines, IAAgriculture, Forestry, Fishing & Hunting737 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,366Employer $ per active participant
$4,108Employee $ saved per active participant
0.24%Direct admin cost, % of plan assets
$45.9MNet plan assets, end of year
$52,690Average balance per account
Score breakdown
- Employer generosity36.8 / 5074th percentile for employer $ per participant
- Low cost12.0 / 2548th percentile for low admin cost vs. same-size plans
- Employee saving11.0 / 1574th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score70 / 100 · Grade B
This plan vs. peers
Peers: Agriculture, Forestry, Fishing & Hunting plans with 500–2,499 active participants (118 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 74th |
| Lower admin cost | 48th |
| Employee saving | 74th |
| Peers that auto-enroll | 36% |
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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
- Hy-Line International put in about $2,366 per active participant, more than the typical peer ($774). 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.
- 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 | $1,744,105 |
| Participant (employee) contributions | $3,027,636 |
| Other contributions (incl. rollovers in) | $8,253 |
| Administrative expenses paid from the plan | $106,866 |
| Contract administrator fees | $106,866 |
| Benefits paid out | $5,404,058 |
| Net assets, start / end of year | $41.8M / $45.9M |
| Active participants, start / end of year | 725 / 749 |
| Participants with account balances | 871 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | RSM US LLP |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $106,866 reported compensation |
| Global Retirement Partners LLC | $27,227 reported compensation |
| Wellth Advisory Services, LLC | $9,576 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251011125957NAL0004764947001, received 2025-10-11, EIN 42-1106927, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.