The Hershey Company 401(k) Review & Grade
The Hershey Company 401(k) Plan
Hershey, PAManufacturing11,704 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$5,305Employer $ per active participant
$7,244Employee $ saved per active participant
0.09%Direct admin cost, % of plan assets
$2.1BNet plan assets, end of year
$133,672Average balance per account
Score breakdown
- Employer generosity24.3 / 5049th percentile for employer $ per participant
- Low cost12.3 / 2549th percentile for low admin cost vs. same-size plans
- Employee saving5.7 / 1538th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score39 / 100 · Grade D
This plan vs. peers
Peers: Manufacturing plans with 10,000+ active participants (151 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 49th |
| Lower admin cost | 49th |
| Employee saving | 38th |
| Peers that auto-enroll | 69% |
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Red flags from the filing
Benefits not paid when due: the plan reported failing to pay some benefits on time.
Corrective distributions: the plan refunded $117,595 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Hershey put in about $5,305 per active participant, below the typical peer ($5,480). 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.
- 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 | $62,085,595 |
| Participant (employee) contributions | $84,775,293 |
| Other contributions (incl. rollovers in) | $17,793,554 |
| Administrative expenses paid from the plan | $1,822,561 |
| Other admin expenses | $1,822,561 |
| Benefits paid out | $278,898,660 |
| Net assets, start / end of year | $2.0B / $2.1B |
| Active participants, start / end of year | 11,492 / 11,915 |
| Participants with account balances | 15,958 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Banks, Finley, White & Co. |
Largest service providers (Schedule C)
| Financial Engines | $909,003 reported compensation |
| Fidelity Investments Institutional | $479,613 reported compensation |
| Towers Watson Investment Services | $383,680 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015104201NAL0002159859001, received 2025-10-15, EIN 23-0691590, plan #010, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.