National Life Insurance Company 401(k) Review & Grade
National Life Insurance Company Agents Retirement Plan
Montpelier, VTFinance & Insurance712 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,762Employer $ per active participant
$2,243Employee $ saved per active participant
0.07%Direct admin cost, % of plan assets
$65.7MNet plan assets, end of year
$106,497Average balance per account
Score breakdown
- Employer generosity9.0 / 5018th percentile for employer $ per participant
- Low cost20.4 / 2582th percentile for low admin cost vs. same-size plans
- Employee saving0.7 / 155th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score33 / 100 · Grade D
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 18th |
| Lower admin cost | 82th |
| Employee saving | 5th |
| Peers that auto-enroll | 62% |
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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 $1,762 per active participant, below the typical peer ($3,606). 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 | $1,254,574 |
| Participant (employee) contributions | $1,596,765 |
| Other contributions (incl. rollovers in) | $727 |
| Administrative expenses paid from the plan | $44,058 |
| Contract administrator fees | $44,058 |
| Benefits paid out | $6,672,336 |
| Net assets, start / end of year | $61.1M / $65.7M |
| Active participants, start / end of year | 691 / 733 |
| Participants with account balances | 617 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Mcsoley Mccoy & Co |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $44,020 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251002084314NAL0000160483001, received 2025-10-02, EIN 03-0144090, plan #005, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.