Iowa › Manufacturing › 5,000 to 24,999 participants
Form 5500 statement · plan year 1 Jan 2025 to 31 Dec 2025
Hni Corporation 401(k) Plan
Sponsored by Hni Corporation, Muscatine, IA
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.
Hni Corporation 401(k) Plan is a 401(k) plan sponsored by Hni Corporation of Muscatine, Iowa. For the plan year ending 31 Dec 2025 it reported 11,594 participants, 6,828 of them active, and net assets of $1.59B.
Net assets came to $132,860 per participant in plan year 2024, well above the $64,499 median for defined contribution plans with 5,000 to 24,999 participants and well above 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 $25.6M during the year, or $3,746 per active participant against a same-size median of $2,424; participants contributed $52.0M and $3.8M arrived as rollovers and other contributions. Benefits paid out totalled $171M.
Schedule C lists 3 service provider organisations paid $5,000 or more, with reported compensation of $576K: $49.70 per participant, below the same-size median of $53.38. Administrative expenses charged to the plan were $559K. 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 $630M in 2009 to $1.59B in 2025 (up 152%), and participants from 10,988 to 11,594 (up 6%).
The independent accountant's opinion on the financial statements was unmodified (unqualified).
Compared with similar plans
| Measure, plan year 2024 | This plan | Same size | Same industry | All US DC plans |
|---|---|---|---|---|
| Net assets per participant | $132,860 | $64,499 | $62,303 | $53,102 |
| Employer contributions per active participant | $3,727 | $2,424 | $2,187 | $2,175 |
| Schedule C compensation per participant | $49.39 | $53.38 | $136 | $123 |
| Schedule C compensation, share of net assets | 0.04% | 0.09% | 0.24% | 0.26% |
| Administrative expenses per participant | $48.59 | $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 |
|---|---|---|---|---|---|---|
| 2025 | 11,594 | $1.59B | $136,871 | $25.6M | $52.0M | $576K |
| 2024 | 11,042 | $1.47B | $132,860 | $25.4M | $39.4M | $545K |
| 2023 | 9,877 | $1.02B | $102,949 | $27.7M | $37.8M | $617K |
| 2022 | 10,949 | $895M | $81,742 | $72.0M | — | $689K |
| 2021 | 11,044 | $1.11B | $100,152 | $24.9M | $32.7M | $639K |
| 2020 | 10,314 | $1.03B | $99,598 | $26.8M | $29.4M | $658K |
| 2019 | 10,897 | $984M | $90,267 | $21.2M | $30.3M | $687K |
| 2018 | 11,290 | $858M | $75,958 | $28.6M | $30.0M | $722K |
| 2017 | 11,456 | $933M | $81,472 | $31.2M | $30.0M | $695K |
| 2016 | 11,236 | $879M | $78,195 | $32.4M | $29.1M | $722K |
| 2015 | 11,184 | $778M | $69,567 | $22.3M | $27.7M | $689K |
| 2014 | 11,129 | $828M | $74,373 | $20.4M | $24.8M | $587K |
| 2013 | 10,981 | $774M | $70,506 | $17.4M | $22.1M | $368K |
| 2012 | 10,188 | $666M | $65,348 | $15.4M | $20.0M | $195K |
| 2011 | 10,042 | $615M | $61,215 | $14.7M | $19.0M | $297K |
| 2010 | 9,865 | $654M | $66,308 | $14.3M | $18.4M | $202K |
| 2009 | 10,988 | $630M | $57,329 | $14.4M | $19.0M | $247K |
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$1,467,045,204
- Employer contributions$25,576,016
- Participant contributions$51,954,514
- Rollovers and other contributions$3,841,725
- Total contributions$86,369,262
- Total income, including investment results$291,833,643
- Benefits paid$171,357,674
- Administrative expenses$558,641
- Total expenses$171,999,118
- Net income$119,834,525
- Net transfers$0
- Net assets, end of year$1,586,879,729
Participants
- Active participants6,828
- Retired or separated, receiving benefits174
- Retired or separated, entitled to future benefits4,502
- Participants with account balances11,383
- Total participants, end of year11,594
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Fidelity Investments Institutional | Participant loan processing | $388,404 | $0 |
| Capfinancial Partners, LLC | Investment advisory (plan) | $127,749 | $0 |
| FGMK, LLC | Accounting (including auditing) | $60,033 | $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$370,860
- Other administrative expenses$127,748
- IQPA audit fees$60,033
- Total administrative expenses$558,641
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.
- Common/collective trusts$1.21B · 76.2%
- Registered investment companies (mutual funds)$235M · 14.8%
- Employer securities$84.7M · 5.3%
- Corporate stocks$20.4M · 1.3%
- Participant loans$18.8M · 1.2%
- Cash (interest and non-interest bearing)$14.4M · 0.9%
- Receivables$5.0M · 0.3%
- U.S. Government securities$80K · 0.0%
- Corporate debt instruments$25K · 0.0%
- Other investments$1,514 · 0.0%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmFGMK LLC
- Participant contributions reported as transmitted lateYes, $171,829
- Covered by a fidelity bondYes, $1,000,000
- Blackout period during the yearYes
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 plan2HPartial participant-directed account plan2JCode section 401(k) feature2KCode section 401(m) arrangement2TTotal or partial participant-directed account plan with a default investment account3IPlan requiring that all or part of employer contributions be invested and held in employer securities3HPlan sponsor(s) is (are) a member(s) of a controlled group2RParticipant-directed brokerage accounts provided as an investment option under the plan
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 337000: Furniture & Related Product Manufacturing.
Other plans of Hni Corporation
| Plan | Participants | Net assets |
|---|---|---|
| Corry Jamestown and Holga Pension Plan B | 306 | $6.0M |
Similar plans in Iowa
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Pella Corporation 401(k) Savings Plan | Pella Corporation | 12,418 | $1.22B | $98,569 |
| Vermeer Corporation 401(k) Retirement Plan | Vermeer Corporation | 5,384 | $499M | $92,642 |
| Wells Enterprises, Inc. 401(k) Plan | Wells Enterprises, Inc. | 5,007 | $446M | $89,039 |
| Danfoss USA Savings Plan | Danfoss Power Solutions US Company | 4,379 | $564M | $128,791 |
| Purfoods, LLC DBA Mom's Meals 401(k) Plan | Purfoods, LLC | 3,851 | $42.7M | $11,093 |
| Sabre Industries 401(k) Retirement Savings Plan | Sabre Industries, Inc. | 3,646 | $93.4M | $25,629 |
Defined contribution plans in manufacturing closest in size.
Questions and answers
How big is Hni Corporation 401(k) Plan?
11,594 participants at the end of the plan year ending 31 Dec 2025, of whom 6,828 were active employees, with net assets of $1,586,879,729. 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 Hni Corporation contribute per participant?
The filing reports $25,576,016 in employer contributions for the year, which is $3,746 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 $576,186 in compensation to service provider organisations, $49.70 per participant or 0.04% 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 $558,641. 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 Hni Corporation. Recordkeeping or administration: Fidelity Investments Institutional. Investment advisory or management: Capfinancial Partners, LLC. The financial statements were audited by FGMK LLC. 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. 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 2025 to 31 Dec 2025, received by the Department of Labor on 8 Jul 2026. 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 42-0617510, plan 001, received 8 Jul 2026; 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.