Mutual of Omaha Insurance Company 401(k) Review & Grade
Mutual of Omaha 401k Retirement Savings Plan
Omaha, NEFinance & Insurance5,932 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$7,080Employer $ per active participant
$7,440Employee $ saved per active participant
0.01%Direct admin cost, % of plan assets
$1.0BNet plan assets, end of year
$141,983Average balance per account
Score breakdown
- Employer generosity37.4 / 5075th percentile for employer $ per participant
- Low cost24.3 / 2597th percentile for low admin cost vs. same-size plans
- Employee saving5.8 / 1539th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score71 / 100 · Grade B
This plan vs. peers
Peers: Finance & Insurance plans with 2,500–9,999 active participants (199 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 75th |
| Lower admin cost | 97th |
| Employee saving | 39th |
| Peers that auto-enroll | 66% |
Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Mutual of Omaha Insurance put in about $7,080 per active participant, more than the typical peer ($4,489). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- 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 | $41,996,898 |
| Participant (employee) contributions | $44,132,959 |
| Other contributions (incl. rollovers in) | $5,154,355 |
| Administrative expenses paid from the plan | $110,021 |
| Benefits paid out | $53,270,451 |
| Net assets, start / end of year | $848.8M / $1.0B |
| Active participants, start / end of year | 5,814 / 6,050 |
| Participants with account balances | 7,166 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Eide Bailly LLP |
Largest service providers (Schedule C)
| Ascensus LLC | $538,433 reported compensation |
| Matrix Financial Solutions | $9,755 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251010141812NAL0013294144001, received 2025-10-10, EIN 47-0246511, plan #006, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.
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