Hearn Industrial Services, Inc.401(k)
HEARN INDUSTRIAL SERVICES, INC. EMPLOYEE 401(K) PLAN · TAYLOR, MI · plan year 2022
Hearn Industrial Services, Inc.'s 2022 Form 5500 did not separately report plan administrative expenses, which is common where recordkeeping is paid through investment revenue-sharing or a master trust. The plan held $275,743 across 35 participant accounts, with employer contributions averaging $26 per active participant. See methodology for what Form 5500 does and doesn't capture.
The plan sits in the under $1M size bracket, benchmarked here against 4,041 comparable plans and shown alongside other transportation & warehousing employers. By assets it is among the smaller plans on file in Michigan (2,578th of 2,619), and 2,533rd of 2,677 in transportation & warehousing. In 2022, employees put in $8.59 for every $1.00 the employer contributed.
Hearn Industrial Services, Inc.'s 2022 employer contribution ran below the $331 median for plans its size, in the bottom quarter of its peers. 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.
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Source: U.S. Department of Labor, Form 5500 series, EIN 611776537 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.