National Life Insurance Company 401(k) Review & Grade
National Life Group 401(k) Plan
Montpelier, VTFinance & Insurance1,454 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3,998Employer $ per active participant
$9,861Employee $ saved per active participant
0.07%Direct admin cost, % of plan assets
$335.3MNet plan assets, end of year
$157,421Average balance per account
Score breakdown
- Employer generosity27.8 / 5056th percentile for employer $ per participant
- Low cost20.7 / 2583th percentile for low admin cost vs. same-size plans
- Employee saving11.2 / 1575th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score70 / 100 · Grade B
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 56th |
| Lower admin cost | 83th |
| Employee saving | 75th |
| Peers that auto-enroll | 62% |
Get the monthly 401(k) report card
The best and worst plans, new grades as filings post. One email a month, no spam.
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
- National Life Insurance put in about $3,998 per active participant, more than the typical peer ($3,606). 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.
- 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 | $5,815,576 |
| Participant (employee) contributions | $14,343,416 |
| Other contributions (incl. rollovers in) | $6,055,790 |
| Administrative expenses paid from the plan | $207,568 |
| Contract administrator fees | $206,911 |
| Other admin expenses | $657 |
| Benefits paid out | $25,587,735 |
| Net assets, start / end of year | $297.6M / $335.3M |
| Active participants, start / end of year | 1,397 / 1,512 |
| Participants with account balances | 2,130 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Mcsoley Mccoy & Co |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $206,334 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251002140834NAL0000564017001, received 2025-10-02, EIN 03-0144090, plan #004, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.