NFP Corp. 401(k) Review & Grade
NFP Corp. 401(k) Plan
New York, NYFinance & Insurance6,470 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$3,131Employer $ per active participant
$9,531Employee $ saved per active participant
0.05%Direct admin cost, % of plan assets
$976.9MNet plan assets, end of year
$154,040Average balance per account
Score breakdown
- Employer generosity15.2 / 5030th percentile for employer $ per participant
- Low cost19.8 / 2579th percentile for low admin cost vs. same-size plans
- Employee saving9.4 / 1563th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score34 / 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 | 30th |
| Lower admin cost | 79th |
| Employee saving | 63th |
| Peers that auto-enroll | 66% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($4,550 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $5,039 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- NFP put in about $3,131 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 reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- 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 | $20,259,982 |
| Participant (employee) contributions | $61,669,787 |
| Other contributions (incl. rollovers in) | $13,650,850 |
| Administrative expenses paid from the plan | $431,912 |
| Investment advisory & management fees | $136,169 |
| Benefits paid out | $63,457,571 |
| Net assets, start / end of year | $827.6M / $976.9M |
| Active participants, start / end of year | 6,297 / 6,644 |
| Participants with account balances | 6,342 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Bdo USA. P.C. |
Largest service providers (Schedule C)
| Schwab Retirement Plan Services,inc | $259,641 reported compensation |
| Wealthspire Advisors LLC | $85,310 reported compensation |
| Bdo USA LLP | $36,177 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251011151424NAL0004797027001, received 2025-10-11, EIN 13-4029115, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.