Modern Hire, Inc.401(k)
MODERN HIRE, INC. 401(K) PROFIT SHARING PLAN AND TRUST · CLEVELAND, OH · plan year 2022
Peer grade: B+ · admin costs + employer contributions vs same-size plans · how grading works
Modern Hire, Inc. reported $5,770 in plan administrative expenses for 2022: 0.03% of average plan assets, lower than ~75% of peers. Employer contributions averaged $1,681 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 $10M–$50M size bracket, benchmarked here against 26,806 comparable plans and shown alongside other professional & technical services employers. By assets it is the 1,515th-largest of 3,295 plans among Ohio employers on file, and 6,214th of 11,654 in professional & technical services. In 2022, employees put in $5.95 for every $1.00 the employer contributed.
Modern Hire, Inc.'s 2022 employer contribution ran below the $2,266 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 2022 administrative ratio, against the median plan its size; fund expense ratios are extra. Compare any plan.
Why are you looking at this plan?
Source: U.S. Department of Labor, Form 5500 series, EIN 753007508 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.