Alera Group, Inc. 401(k) Review & Grade
Alera Group, Inc. Savings Plan
Deerfield, ILFinance & Insurance4,580 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3,683Employer $ per active participant
$9,848Employee $ saved per active participant
0.25%Direct admin cost, % of plan assets
$499.7MNet plan assets, end of year
$98,078Average balance per account
Score breakdown
- Employer generosity19.2 / 5038th percentile for employer $ per participant
- Low cost7.0 / 2528th percentile for low admin cost vs. same-size plans
- Employee saving9.8 / 1566th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score33 / 100 · Grade D
This plan vs. peers
Peers: Finance & Insurance plans with 2,500–9,999 active participants (199 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 38th |
| Lower admin cost | 28th |
| Employee saving | 66th |
| Peers that auto-enroll | 66% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($93,657 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $30,873 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Alera Group put in about $3,683 per active participant, below the typical peer ($4,489). Any match is still an instant return, so contribute enough to get all of it.
- The filing shows total dollars, not the match formula. Ask HR for the Summary Plan Description so you know the exact match and vesting schedule.
- Direct plan expenses (0.25% of assets) are well above similar-size plans (0.12%). Check your annual fee disclosure, choose low-cost index funds if you can, and think about whether savings beyond the match belong in an IRA.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- The plan reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- Changing jobs? You can usually leave the money in the plan, move it to your new employer's plan, or roll it into an IRA. Don't cash out: you'd owe taxes and possibly a 10% penalty.
The raw numbers from the filing
| Employer contributions | $16,867,262 |
| Participant (employee) contributions | $45,099,778 |
| Other contributions (incl. rollovers in) | $17,552,261 |
| Administrative expenses paid from the plan | $1,128,807 |
| Contract administrator fees | $1,053,915 |
| Investment advisory & management fees | $74,892 |
| Benefits paid out | $44,458,316 |
| Net assets, start / end of year | $414.3M / $499.7M |
| Active participants, start / end of year | 4,588 / 4,571 |
| Participants with account balances | 5,095 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Wipfli LLP |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $1,053,915 reported compensation |
| Alera Investment Advisors, LLC | $75,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015092934NAL0002082723001, received 2025-10-15, EIN 81-4473358, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.