Hastings Manufacturing Company401(k)
HASTINGS MANUFACTURING COMPANY HOURLY 401(K) RETIREMENT PLAN · HASTINGS, MI · plan year 2023
Peer grade: B+ · admin costs + employer contributions vs same-size plans · how grading works
Hastings Manufacturing Company reported $4,988 in plan administrative expenses for 2023: 0.12% of average plan assets, lower than ~75% of peers. Employer contributions averaged $956 per active participant. This ratio covers administrative expenses reported on the plan's Schedule H only; fund-level expense ratios are not included in public structured data — see methodology.
Across the 2 years on file its reported administrative ratio rose from 0.13% to 0.31%. The plan sits in the $1M–$10M size bracket, benchmarked here against 22,307 comparable plans and shown alongside other manufacturing employers. By assets it is among the smaller plans on file in Michigan (2,084th of 2,619), and 11,546th of 13,661 in manufacturing. In 2023, employees put in $2.70 for every $1.00 the employer contributed; active participation has shrunk from 146 to 119 since 2022.
Hastings Manufacturing Company's 2023 employer contribution ran below the $1,308 median for plans its size. Filings report dollars actually contributed, not the match formula; the formula itself (for example, 50% of the first 6% of pay) lives in the plan's summary plan description from HR.
Annual cost at the plan's reported 2023 administrative ratio, against the median plan its size; fund expense ratios are extra. Compare any plan.
Compensation shown is direct payments from plan assets reported on Schedule C. Providers paid through fund revenue-sharing appear as indirect.
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Source: U.S. Department of Labor, Form 5500 series, EIN 462667925 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.