North American Risk Services, Inc. 401(k) Review & Grade
North American Risk Services, Inc. 401(k) Plan
Lake Mary, FLFinance & Insurance518 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,126Employer $ per active participant
$4,621Employee $ saved per active participant
0.36%Direct admin cost, % of plan assets
$30.8MNet plan assets, end of year
$58,156Average balance per account
Score breakdown
- Employer generosity11.1 / 5022th percentile for employer $ per participant
- Low cost8.6 / 2534th percentile for low admin cost vs. same-size plans
- Employee saving2.8 / 1519th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score26 / 100 · Grade F
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 22th |
| Lower admin cost | 34th |
| Employee saving | 19th |
| 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
- North American Risk Services put in about $2,126 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.
- Direct plan expenses (0.36% of assets) are well above similar-size plans (0.23%). Check your annual fee disclosure, choose low-cost index funds if you can, and think about whether savings beyond the match belong in an IRA.
- 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 | $1,101,341 |
| Participant (employee) contributions | $2,393,881 |
| Other contributions (incl. rollovers in) | $1,095,418 |
| Administrative expenses paid from the plan | $100,581 |
| Investment advisory & management fees | $39,389 |
| Benefits paid out | $2,889,105 |
| Net assets, start / end of year | $25.5M / $30.8M |
| Active participants, start / end of year | 500 / 536 |
| Participants with account balances | 529 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Moss, Krusick & Associates |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company O | $61,192 reported compensation |
| Kestra Advisory Services LLC | $30,000 reported compensation |
| Empower Advisory Group, LLC | $9,389 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250804070203NAL0001068451001, received 2025-08-04, EIN 13-3901415, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.