Hankey Investment 401(k) match, vesting and fees
What Hankey Investment's 401(k) plan says about matching contributions
The Plan allows for the Company to make discretionary matching contributions. The Company provides an employer matching contribution based on total employee deferrals and eligibility criteria among two plans. To qualify for a match, employees must have an active employment status at the last business day of the plan year and must have worked at least 1,000 hours during the year. Employer matching contributions are subject to the IRS maximum compensation limit of $345,000, resulting in a maximum employer match of $13,800 for 2024. The Company’s matching formula is tiered based on the employee’s contribution rate as a percentage of eligible compensation as follows: • For combined employee contributions between the plan and ESOP Plan up to 3%, the Company matches 100 % of the employee’s contribution, up to 3% of compensation. • For combined employee contributions between the plan and ESOP Plan of 3-5%, the Company matches 100% of the first 3% and 50% of the 1-2%, resulting in a total potential match of up to 4%. • For combined employee contributions between the plan and ESOP Plan of 5% or more, the maximum employer match remains 4% of eligible compensation.
Quoted directly from the filing. Plan terms may have changed; check your current Summary Plan Description.
Plan features
Indented passages are quoted word for word from the audit report; plan terms may have changed since, so check your current Summary Plan Description.
| Employer match | Quoted from the filing above | 2024 audit report, p. 33 ↗ |
| Roth contributions | Eligible participants may contribute between a minimum 2% and a maximum 25% of their annual compensation in pre-tax contributions, Roth contributions, a combination of these of these two types offered by the Plan or ESOP Plan. | 2024 audit report, p. 33 ↗ |
| Loans | Participants may borrow from their fund accounts a minimum of $1,000 up to a maximum equal to the lesser of $50,000 or 50% of their vested account balance. The loans are secured by the balance in the participant account. All loans shall bear an interest rate equal to the prime rate of Wells Fargo plus 1%, which shall remain fixed throughout the duration of the loan. Principal and interest is paid ratably through payroll deductions. Each participant may have two loans outstanding at a time in a rolling 12 month period. For participant loans that become delinquent, the amount of the unpaid loan principal plus any accrued unpaid interest will be treated as a deemed distribution. | 2024 audit report, p. 34 ↗ |
| Recordkeeper | Principal Life Insurance Company | 2025 Schedule C ↗ |
| Independent auditor | Lsl, LLP (unmodified opinion) | 2025 Schedule H ↗ |
| Plan type and status | 401(k) · Active | 2025 Form 5500 ↗ |
Match, vesting and other plan features are from the plan year 2024 filing's audit report (the latest one extracted so far). Rows cited to the Form 5500 and its schedules are from the plan year 2025 filing.
How the plan compares
Plan year 2025 medians for 126 defined-contribution plans in retail trade with 1,000 to 4,999 participants.
| Hankey Investment: employer contribution per participant | $1,353 | |
| Peer median | $996 |
| Hankey Investment: average balance | $77,515 | |
| Peer median | $47,401 |
| Hankey Investment: admin expenses ÷ assets | 0.15% | |
| Peer median | 0.20% |
Admin expenses are the plan's reported administrative expenses divided by its assets; they do not include fund expense ratios.
Plan history
Plan assets went from $91.3M at the end of plan year 2021 to $124M at the end of plan year 2025.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2025 | 4,292 | $124M | $2.2M | $1,353 | 0.15% | Not published | Form 5500 ↗ |
| 2024 | 4,160 | $108M | $3.2M | $2,113 | 0.21% | Quoted in the audit report, p. 33 ↗ | Form 5500 ↗ |
| 2023 | 4,090 | $91.7M | $3,500 | $2 | 0.22% | Not published | Form 5500 ↗ |
| 2022 | 4,110 | $79.8M | $1.6M | $1,098 | 0.22% | Not published | Form 5500 ↗ |
| 2021 | 4,009 | $91.3M | $1.7M | $1,110 | 0.24% | Not published | Form 5500 ↗ |
Common questions
Does Hankey Investment match 401(k) contributions?
The audit report attached to the Hg 401(k) Plan's plan year 2024 Form 5500, page 33 says: “The Plan allows for the Company to make discretionary matching contributions. The Company provides an employer matching contribution based on total employee deferrals and eligibility criteria among two plans. To qualify for a match, employees must have an active employment status at the last business day of the plan year and must have worked at least 1,000 hours during the year. Employer matching contributions are subject to the IRS maximum compensation limit of $345,000, resulting in a maximum employer match of $13,800 for 2024. The Company’s matching formula is tiered based on the employee’s contribution rate as a percentage of eligible compensation as follows: • For combined employee contributions between the plan and ESOP Plan up to 3%, the Company matches 100 % of the employee’s contribution, up to 3% of compensation. • For combined employee contributions between the plan and ESOP Plan of 3-5%, the Company matches 100% of the first 3% and 50% of the 1-2%, resulting in a total potential match of up to 4%. • For combined employee contributions between the plan and ESOP Plan of 5% or more, the maximum employer match remains 4% of eligible compensation.” Plan terms may have changed; check your current Summary Plan Description.
When is the Hankey Investment 401(k) match vested?
The vesting schedule for the Hg 401(k) Plan is not in the data published so far. Your Summary Plan Description states it.
Who manages the Hankey Investment 401(k)?
The recordkeeper listed on Schedule C of the plan year 2025 filing is Principal Life Insurance Company. The plan administrator is Hankey Investment Company LP.
I left Hankey Investment. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Hankey Investment Company LP, (323) 692-4008) or the recordkeeper, Principal Life Insurance Company. The Hankey Investment old 401(k) page lists the contacts from every plan filing. Find an old Hankey Investment 401(k)
Data from the public Form 5500 annual reports Hankey Investment filed with the U.S. Department of Labor (plan years 2021 and 2022 and 2023 and 2024 and 2025) and, where noted, the attached independent auditor's report. Plan terms may have changed since the filing; check your current Summary Plan Description. PlanFacts is not affiliated with Hankey Investment. Not financial advice. Report a correction · Methodology