Illinois › Manufacturing › 5,000 to 24,999 participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
Heico Holding, Inc. 401(k) Plan
Sponsored by Heico Holding, Inc., Warrenville, IL
Form 5500 information is as filed by the plan administrator with the Department of Labor and may be amended. Figures reflect the plan year shown, not current balances. Form 5500 contains no individual account balances. Look up the original filing at EFAST2.
In the plan year ending 31 Dec 2024, Heico Holding, Inc. 401(k) Plan covered 7,381 participants and held $437M in net assets. The plan is a 401(k) plan sponsored by Heico Holding, Inc. of Warrenville, Illinois.
Net assets came to $59,270 per participant, below the $64,499 median for defined contribution plans with 5,000 to 24,999 participants and close to the $62,303 median for defined contribution plans in manufacturing. The figure is an average across everyone in the plan, including former employees with small balances; Form 5500 holds no individual account data.
The employer contributed $11.5M during the year, or $2,013 per active participant against a same-size median of $2,424; participants contributed $26.4M and $4.1M arrived as rollovers and other contributions. Benefits paid out totalled $57.2M.
Schedule C lists 2 service provider organisations paid $5,000 or more, with reported compensation of $351K: $47.54 per participant, below the same-size median of $53.38. Administrative expenses charged to the plan were $351K. Schedule C does not capture every cost: fees netted from fund returns and fees the employer pays directly are outside it.
Across the filings on record, net assets went from $98.8M in 2009 to $437M in 2024 (up 343%), and participants from 1,567 to 7,381 (up 371%).
The independent accountant's opinion on the financial statements was unmodified (unqualified), from an audit whose scope was limited under ERISA section 103(a)(3)(C) to exclude investment information certified by a bank or insurer.
Compared with similar plans
| Measure | This plan | Same size | Same industry | All US DC plans |
|---|---|---|---|---|
| Net assets per participant | $59,270 | $64,499 | $62,303 | $53,102 |
| Employer contributions per active participant | $2,013 | $2,424 | $2,187 | $2,175 |
| Schedule C compensation per participant | $47.54 | $53.38 | $136 | $123 |
| Schedule C compensation, share of net assets | 0.08% | 0.09% | 0.24% | 0.26% |
| Administrative expenses per participant | $47.54 | $54.85 | $131 | $116 |
Peer columns are medians for plan year 2024 across defined contribution plans with 100 or more participants: 5,000 to 24,999 participants (2,605 plans), manufacturing (11,377) and all US plans (63,460). Fee medians cover plans that report an amount.
Trend by plan year
| Plan year | Participants | Net assets | Per participant | Employer contributions | Participant contributions | Schedule C compensation |
|---|---|---|---|---|---|---|
| 2024 | 7,381 | $437M | $59,270 | $11.5M | $26.4M | $351K |
| 2023 | 7,752 | $400M | $51,652 | $10.0M | $23.9M | $321K |
| 2022 | 6,802 | $347M | $50,943 | $8.0M | $18.7M | $548K |
| 2021 | 6,215 | $402M | $64,730 | $7.1M | $15.1M | $660K |
| 2020 | 5,935 | $366M | $61,714 | $7.3M | $14.5M | $409K |
| 2019 | 6,518 | $327M | $50,121 | $7.4M | $14.3M | $425K |
| 2018 | 6,226 | $275M | $44,170 | $6.1M | $13.2M | $722K |
| 2017 | 3,359 | $289M | $86,095 | $5.5M | $12.0M | $751K |
| 2016 | 4,102 | $247M | $60,225 | $3.5M | $7.9M | $413K |
| 2015 | 1,856 | $170M | $91,625 | $3.0M | $7.2M | $85K |
| 2014 | 1,765 | $158M | $89,568 | $2.1M | $6.7M | $119K |
| 2013 | 1,575 | $156M | $98,832 | $1.9M | $6.2M | $102K |
| 2012 | 1,444 | $130M | $89,801 | $1.8M | $5.9M | $99K |
| 2011 | 1,433 | $116M | $81,084 | $1.8M | $5.9M | $156K |
| 2010 | 1,540 | $115M | $74,523 | $2.2M | $6.4M | $145K |
| 2009 | 1,567 | $98.8M | $63,038 | $2.1M | $6.5M | $135K |
Years in which the plan filed the full Form 5500 with 100 or more participants, from 2009. Plan year is the year in which the plan year began.
Statement for the year
- Net assets, beginning of year$400,407,754
- Employer contributions$11,499,505
- Participant contributions$26,394,174
- Rollovers and other contributions$4,128,942
- Total contributions$42,022,621
- Total income, including investment results$94,571,543
- Benefits paid$57,153,096
- Administrative expenses$350,909
- Total expenses$57,504,005
- Net income$37,067,538
- Net transfers$0
- Net assets, end of year$437,475,292
Participants
- Active participants5,714
- Retired or separated, receiving benefits140
- Retired or separated, entitled to future benefits1,494
- Participants with account balances5,830
- Total participants, end of year7,381
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Empower | Direct payment from the plan; Float revenue; Other investment fees and expenses; Investment management fees paid indirectly by plan; Recordkeeping fees; Sub-transfer agency fees; 'Soft dollars' commissions | $234,336 | $0 |
| UBS Financial Services, Inc. | Investment advisory (plan) | $116,573 | $0 |
Schedule C, Part I line 2: providers that received $5,000 or more, with the form's own service codes. Individuals named on Schedule C (plan employees, individual trustees) are never shown and their compensation is excluded. Eligible indirect compensation disclosed by formula carries no dollar amount. See how to read Schedule C fees.
Administrative expenses on Schedule H
- Recordkeeping fees$234,336
- Investment advisory and management fees$116,573
- Total administrative expenses$350,909
Investment structure
Assets at year end by Schedule H category. The form shows the kind of vehicle holding the money, not the funds on the menu.
- Registered investment companies (mutual funds)$234M · 53.6%
- Pooled separate accounts$174M · 39.9%
- Common/collective trusts$20.9M · 4.8%
- Participant loans$7.5M · 1.7%
- Receivables$380K · 0.1%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)Yes
- Accounting firmGrant Thornton LLP
- Participant contributions reported as transmitted lateYes, $24,336
- Covered by a fidelity bondYes, $10,000,000
- Blackout period during the yearNo
These are the plan administrator's own answers on Schedule H, Part IV. A reported late transmittal is the filer's disclosure of a timing lapse, usually corrected through the Department of Labor's voluntary program; the amount is the total involved, not a loss.
Plan characteristics
2EProfit-sharing plan2FERISA section 404(c) plan2GTotal participant-directed account plan2JCode section 401(k) feature2KCode section 401(m) arrangement3HPlan sponsor(s) is (are) a member(s) of a controlled group
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 333100: Agriculture, Construction, & Mining Machinery Mfg.
Similar plans in Illinois
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| The Middleby Corporation Profit Sharing Plan | The Middleby Corporation | 7,665 | $378M | $49,309 |
| Atkore International Retirement Savings and Investment Plan | Atkore International Inc. | 7,002 | $261M | $37,230 |
| Prairie Farms Dairy Thrift Incentive Plan | Prairie Farms Dairy, Inc. | 7,733 | $637M | $82,437 |
| Amsted Industries Employees Capital Accumulation Plan | Amsted Industries, Inc. | 6,992 | $835M | $119,392 |
| International Motors, LLC 401(k) Retirement Plan | International Motors, LLC | 7,744 | $1.77B | $229,033 |
| McCain Foods USA, Inc. Retirement Plan | McCain Foods USA, Inc. | 6,871 | $724M | $105,388 |
Defined contribution plans in manufacturing closest in size.
Questions and answers
How big is Heico Holding, Inc. 401(k) Plan?
7,381 participants at the end of the plan year ending 31 Dec 2024, of whom 5,714 were active employees, with net assets of $437,475,292. Among defined contribution plans that places it in the 5,000 to 24,999 participants band, which held 2,605 plans in plan year 2024.
What does Heico Holding, Inc. contribute per participant?
The filing reports $11,499,505 in employer contributions for the year, which is $2,013 per active participant; the median for plans of the same type and size was $2,424 in plan year 2024. Form 5500 reports the total only. It does not state the match formula, and the per-participant figure is an average, not any one person's contribution.
What fees does the plan pay and how do they compare?
Schedule C reports $350,909 in compensation to service provider organisations, $47.54 per participant or 0.08% of net assets. The same-size median among plans reporting any Schedule C compensation was $53.38 per participant. Administrative expenses on Schedule H were $350,909. Investment costs deducted inside mutual funds and other pooled vehicles are not itemised on Form 5500, so these figures are a floor rather than a full cost.
Who runs the plan?
The sponsor is Heico Holding, Inc.. Recordkeeping or administration: Empower. Investment advisory or management: UBS Financial Services, Inc.. The financial statements were audited by Grant Thornton LLP. Form 5500 also names the plan administrator's signer and other individuals; this site publishes organisations only.
Was the audit opinion unqualified?
The filing reports an unmodified (unqualified) opinion from a limited-scope audit, in which the accountant did not audit investment information certified by a bank or insurance company. Unmodified (formerly "unqualified") is the standard clean opinion.
How current is this, and does it show my balance?
This is the Form 5500 for the plan year 1 Jan 2024 to 31 Dec 2024, received by the Department of Labor on 15 Oct 2025. Filings are due seven months after the plan year ends, or nine and a half with an extension, so the public record always runs a year or more behind. It contains plan-level totals only: no individual balances, contributions or names of participants exist in the data.
Provenance
Source: U.S. Department of Labor, Employee Benefits Security Administration, Form 5500 research files (Form 5500, Schedule H, Schedule C) for plan years 2009 to 2025, public domain, with filings received through 24 Aug 2026. This page shows the latest filing on record for EIN 36-1622665, plan 003, received 15 Oct 2025; an amended filing replaces it at the next build. Medians and percentiles are computed by this site; see the methodology. Report an error through corrections.