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Benchmarking Hermanson Company, LLP 401(K) Plan in Kent, WA against all plans

 

Hermanson Company, LLP 401(K) Plan in Kent, WA has the 12th-highest average participant cash contribution per active participant ($9,147) of the 109 plans whose industry group is Building Equipment Contractors, are a profit-sharing plan, and provide for automatic enrollment. That $9,147 compares to an average of $5,965 across those 109 plans.

Beating the average of $5,965 means an extra $633,227 in participant cash contributions.

Note: average participant cash contribution per active participant =
cash contributions from participants ÷ active participants

Hermanson Company, LLP 401(K) Plan has these standings among those 109 peer plans:

  • average participant cash contribution per active participant = $9,147 (12th-highest)

  • cash contributions from participants = $1,820,285 (37th-most)

  • active participants = 199 (47th-fewest, tied)

Visualize

 
 

Peers

beat out by Cochran Inc. 401(K) Plan in Seattle, WA ($11,397), Veca 401(K) Savings Plan in Seattle, WA ($10,530), Par Plumbing Company, Inc. Retirement Savings Plan in Lynbrook, NY ($10,180), and Sprig Electric 401(K) Plan in San Jose, CA ($10,011), and 7 others, ending with Feyen Zylstra L.L.C. 401(K) Plan in Walker, MI ($9,150).

beat Csi Electrical Contractors, Inc. 401(K) Profit Sharing Plan in Santa Fe Springs, CA ($9,107), Pec Solutions, LLC Profit Sharing and 401(K) Plan in Fridley, MN ($8,982), Ats Automation, Inc. 401(K) Plan in Renton, WA ($8,911), and Gil-Bar Industries Inc 401(K) Profit Sharing Plan & Trust in New York, NY ($8,763), and 93 others, ending with Heartland Home Services Inc 401(K) Profit Sharing Plan & Trust in Grand Rapids, MI ($1,921).

References

  1. provide for automatic enrollment. 401(k) plan or 403(b) plan that provides for automatic enrollment in a plan that has elective contributions deducted from payroll. Feature code 2S within Line 8a of Form 5500. Except where noted, all data come from the 25-July-2024 updates to the year-2022 5500 Forms and Schedule H from the public websites at the Department of Labor, Employee Benefits Security Administration.
  2. whose industry group is. The industry group is the first four digits from the six-digit NAICS business code, Line 2d in Form 5500, which best describes the nature of the plan sponsor’s business, from the available list. If more than one employer or employee organization is involved, filers are asked to enter the business code for the main business activity of the employer and/or employee organizations. Except where noted, all data come from the 25-July-2024 updates to the year-2022 5500 Forms and Schedule H from the public websites at the Department of Labor, Employee Benefits Security Administration.
  3. average participant cash contribution per active participant. Higher values are better. Average participant cash contribution per active participant equals cash contributions from participants, Line 2a(1)(B) from Schedule H, divided by active participants at the end of the plan year, Line 6a(2), Form 5500. Except where noted, all data come from the 25-July-2024 updates to the year-2022 5500 Forms and Schedule H from the public websites at the Department of Labor, Employee Benefits Security Administration.
  4. a profit-sharing plan. Feature code 2E within Line 8a of Form 5500. Except where noted, all data come from the 25-July-2024 updates to the year-2022 5500 Forms and Schedule H from the public websites at the Department of Labor, Employee Benefits Security Administration.