What are the fees in the Hi-Lex 401(k) plan?

For plan year 2022, Hi-Lex reported $51,260 in plan administrative expenses, or 0.08% of average plan assets — below the peer median. Fund-level expense ratios are not included in public filings.

What is the Hi-Lex 401(k) match?

In 2022, employer contributions to the Hi-Lex plan averaged $213 per active participant, below the $3,449 median for plans of similar size. Public filings report contribution dollars, not the match formula; the formula is in the plan's summary plan description.

What is the average account balance in the Hi-Lex 401(k)?

The average participant account balance was $47,159 for plan year 2022, based on 1,372 accounts.

Hi-Lex401(k)

Name: Hi-Lex 401(k) plan: Form 5500 data
Creator: U.S. Department of Labor

HI-LEX EMPLOYEES RETIREMENT SAVINGS PLAN · LITCHFIELD, MI · plan year 2022

Reported admin expense ratio · 2022

0.08%

Peer grade: C+ · admin costs + employer contributions vs same-size plans · how grading works

Hi-Lex reported $51,260 in plan administrative expenses for 2022: 0.08% of average plan assets, below the peer median. Employer contributions averaged $213 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.

The plan sits in the $50M–$250M size bracket, benchmarked here against 9,341 comparable plans and shown alongside other manufacturing employers. By assets it is the 424th-largest of 2,619 plans among Michigan employers on file, and the 2,620th of 13,661 in manufacturing. In 2022, employees put in $3.00 for every $1.00 the employer contributed.

Plan summary
Net assets, end of year$64,702,543
Participants with balances1,372
Active participants1,245
Employer contributions$264,779
Employee contributions$794,587
Employer contribution per active participant$213
Average account balance$47,159
Benefits paid to participants$739,712
Plan auditUnmodified (clean) audit opinion
AuditorMANER COSTERISAN

Administrative expenses, itemized · 2022

Recordkeeping & contract admin$51,260

Total administrative$51,260

The Hi-Lex 401(k) match · 2022

Employer contribution per active participant$213

Median for plans this size$3,449

Hi-Lex's 2022 employer contribution ran below the $3,449 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.

What these fees cost you

Your balance

Annual cost at the plan's reported 2022 administrative ratio, against the median plan its size; fund expense ratios are extra. Compare any plan.

Administrative cost history1

2022$51,260 · 0.08%

Same employer

Hi-Lex's health & benefits plan: carriers, premiums & broker pay

Similar plansManufacturing · Michigan
Smr Automotive Systems USA, Inc. MI$66.2M · 0.05%
Lg Energy Solution Michigan, Inc. MI$65.7M · 0.25%
G & T Industries, Inc MI$65.4M · 0.06%
International Association of Machinists MI$64.7M · 0.33%
Fema Corp. of Michigan, Inc MI$64.7M
Avon Rubber and Plastics, Inc. MI$63.8M · 0.22%
Adac Plastics, Inc. MI$63.7M · 0.32%
Adrian Steel Company MI$63.0M · 0.26%

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Source: U.S. Department of Labor, Form 5500 series, EIN 382073086 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.