# Hoover Group, INC. 401(k) Plan
Source: https://planprovider.pro/companies/hoover-group-inc-401k-plan

> Hoover Group, INC.'s 401(k) plan: 131 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## Plan Snapshot

- **Plan Sponsor:** Hoover Group, INC.

- **Sponsor EIN:** 581645956

- **Sponsor Address:** 24285 KATY FREEWAY, SUITE 200, KATY, TX, 774941327

- **Plan Type:** 401(k)

- **Total Participants:** 131

- **Total Assets:** $7.9M

## Key Plan Design Features

- **Auto-Enrollment:** Yes

- **Auto-Escalation:** No

- **Allows Roth Contributions:** Yes

- **Participant Loans:** No

- **Participant-Directed Investments:** Yes

- **ERISA Section 404(c) Fiduciary Safe Harbor:** Yes

## Plan Financials by Year

| Year|Participants|Total Assets|Employer Contrib.|Employee Contrib.|

| 2024|131|$7.9M|$517,958|$794,894|

| 2023|138|$6.1M|$569,799|$797,378|

| 2022|145|$7.4M|$375,314|$747,989|

## Service Providers (Schedule C)

Vendors paid $5,000 or more for services to the plan, ranked by total compensation (direct + indirect fees).

| Provider Name|
Role|
Direct Compensation|
Indirect Compensation|
Total Fees|

| PRINCIPAL LIFE INSURANCE COMPANY|CONTRACT ADMINISTRATOR|$25,253|—|$25,253|

| WITHUMSMITH+BROWN, PC|Auditor|—|—|$0|

### Verified Provider Profiles

Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:

- [WITHUMSMITH+BROWN, PC](https://planprovider.pro/provider/withumsmithbrown-pc) — Auditor

## Plan Fees & Expenses

Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.

- **Total Service Provider Fees:** $25,253

- **Estimated Expense Ratio:** 0.318% of plan assets

### Historical Administrative Expenses

Breakdown of administrative expense categories reported on Form 5500 filings.

| Year|
Total Admin Expenses|
Investment Mgmt Fees|
Contract Admin Fees|
IQPA Audit Fees|
Professional Fees|

| 2024|$25,253|—|$25,253|—|—|

| 2023|$27,426|—|$27,426|—|—|

| 2022|$28,120|—|$28,120|—|—|

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