Hood Industries 401(k) match, vesting and fees
What Hood Industries' 401(k) plan says about matching contributions
The Plan is a defined contribution safe-harbor plan, which covers substantially all employees of Hood Industries, Inc. (the "Company") who are eighteen or older. The Company contributes qualified matching contributions ("QMAC") equal to 100 percent of the first 3 percent and 50 percent of the next 2 percent of eligible compensation contributed by the participant.
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 | Effective January 1, 2025, the Plan was amended to permit participants to make Roth 401(k) contributions. Prior to this amendment, only traditional pre-tax elective deferrals were permitted under the Plan. The Plan Sponsor implemented the Roth 401(k) feature to provide participants with greater flexibility in retirement planning and tax diversification strategies. | 2024 audit report, p. 39 ↗ |
| Loans | Participants may borrow from their accounts a minimum of $1,000 up to the lesser of $50,000 reduced by the balance of an outstanding loan or 50 percent of the fair value of the participant's vested account balance. | 2024 audit report, p. 34 ↗ |
| Recordkeeper | Principal Life Insurance Company | 2025 Schedule C ↗ |
| Independent auditor | Bdo USA, P.C. (unmodified opinion, limited scope) | 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 434 defined-contribution plans in manufacturing with 1,000 to 4,999 participants.
| Hood Industries: employer contribution per participant | $2,375 | |
| Peer median | $2,591 |
| Hood Industries: average balance | $79,076 | |
| Peer median | $102,504 |
| Hood Industries: admin expenses ÷ assets | 0.17% | |
| Peer median | 0.11% |
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 $75.6M at the end of plan year 2021 to $94M at the end of plan year 2025.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2025 | 1,540 | $94M | $2.8M | $2,375 | 0.17% | Not published | Form 5500 ↗ |
| 2024 | 1,440 | $72M | $2.3M | $2,236 | 0.18% | Quoted in the audit report, p. 33 ↗ | Form 5500 ↗ |
| 2023 | 1,304 | $70M | $2.5M | $2,305 | 0.18% | Not published | Form 5500 ↗ |
| 2022 | 1,400 | $62.5M | $2.8M | $2,366 | 0.30% | Not published | Form 5500 ↗ |
| 2021 | 1,520 | $75.6M | $2.9M | $2,088 | 0.35% | Not published | Form 5500 ↗ |
Common questions
Does Hood Industries match 401(k) contributions?
The audit report attached to the Hood Industries Retirement and Savings Plan's plan year 2024 Form 5500, page 33 says: “The Plan is a defined contribution safe-harbor plan, which covers substantially all employees of Hood Industries, Inc. (the "Company") who are eighteen or older. The Company contributes qualified matching contributions ("QMAC") equal to 100 percent of the first 3 percent and 50 percent of the next 2 percent of eligible compensation contributed by the participant.” Plan terms may have changed; check your current Summary Plan Description.
When is the Hood Industries 401(k) match vested?
The vesting schedule for the Hood Industries Retirement and Savings Plan is not in the data published so far. Your Summary Plan Description states it.
Who manages the Hood Industries 401(k)?
The recordkeeper listed on Schedule C of the plan year 2025 filing is Principal Life Insurance Company. The plan administrator is Hood Industries, Inc..
I left Hood Industries. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Hood Industries, Inc., (601) 264-2962) or the recordkeeper, Principal Life Insurance Company. The Hood Industries old 401(k) page lists the contacts from every plan filing. Find an old Hood Industries 401(k)
Data from the public Form 5500 annual reports Hood Industries 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 Hood Industries. Not financial advice. Report a correction · Methodology