Brown & Brown, Inc. 401(k) Review & Grade
Brown & Brown, Inc Employee Savings Plan
Daytona Beach, FLFinance & Insurance12,224 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$3,560Employer $ per active participant
$7,225Employee $ saved per active participant
0.06%Direct admin cost, % of plan assets
$1.8BNet plan assets, end of year
$136,641Average balance per account
Score breakdown
- Employer generosity11.3 / 5023th percentile for employer $ per participant
- Low cost15.8 / 2563th percentile for low admin cost vs. same-size plans
- Employee saving2.1 / 1514th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score29 / 100 · Grade F
This plan vs. peers
Peers: Finance & Insurance plans with 10,000+ active participants (72 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 23th |
| Lower admin cost | 63th |
| Employee saving | 14th |
| Peers that auto-enroll | 74% |
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Red flags from the filing
Corrective distributions: the plan refunded $17,960 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Brown & Brown put in about $3,560 per active participant, below the typical peer ($5,179). 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.
- Fund expense ratios aren't in the filing. Look them up in your 404(a)(5) fee disclosure and favor low-cost index or target-date funds.
- 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 | $43,521,837 |
| Participant (employee) contributions | $88,324,012 |
| Other contributions (incl. rollovers in) | $36,019,081 |
| Administrative expenses paid from the plan | $1,009,653 |
| Contract administrator fees | $19,250 |
| Investment advisory & management fees | $303,376 |
| Benefits paid out | $148,170,408 |
| Net assets, start / end of year | $1.5B / $1.8B |
| Active participants, start / end of year | 12,055 / 12,393 |
| Participants with account balances | 12,841 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Baker Tilly US, LLP |
| Employer stock held by plan | $100,294,159 |
Largest service providers (Schedule C)
| Schwab Retirement Plan Services Inc | $666,522 reported compensation |
| Newport Retirement Services Inc | $87,469 reported compensation |
| Hancock Askew & Co LLP | $38,500 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250708155938NAL0004862913001, received 2025-07-08, EIN 59-0864469, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.