Mercury General Corporation 401(k) Review & Grade
Mercury General Corporation Profit Sharing Plan
Los Angeles, CAFinance & Insurance4,169 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,872Employer $ per active participant
$8,461Employee $ saved per active participant
0.06%Direct admin cost, % of plan assets
$940.9MNet plan assets, end of year
$173,761Average balance per account
Score breakdown
- Employer generosity12.6 / 5025th percentile for employer $ per participant
- Low cost17.8 / 2571th percentile for low admin cost vs. same-size plans
- Employee saving7.7 / 1551th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score35 / 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 | 25th |
| Lower admin cost | 71th |
| Employee saving | 51th |
| Peers that auto-enroll | 66% |
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Red flags from the filing
Benefits not paid when due: the plan reported failing to pay some benefits on time.
Corrective distributions: the plan refunded $14,130 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Mercury General put in about $2,872 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.
- 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.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- 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 | $11,974,349 |
| Participant (employee) contributions | $35,274,039 |
| Other contributions (incl. rollovers in) | $4,152,957 |
| Administrative expenses paid from the plan | $556,332 |
| Contract administrator fees | $1,200 |
| Investment advisory & management fees | $421,014 |
| Other admin expenses | $99,500 |
| Benefits paid out | $63,246,158 |
| Net assets, start / end of year | $814.9M / $940.9M |
| Active participants, start / end of year | 4,131 / 4,207 |
| Participants with account balances | 5,415 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Holthouse Carlin Van Trigt LLP |
| Employer stock held by plan | $19,052,736 |
Largest service providers (Schedule C)
| Strategic Advisors, Inc. | $421,014 reported compensation |
| Benefit Financial Services Group | $50,000 reported compensation |
| Morgan Stanley | $49,500 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250919132125NAL0003114563001, received 2025-09-19, EIN 95-2211612, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.