Ohio Farmers Insurance Company 401(k) Review & Grade
Westfield Employee Retirement Savings Plan · d/b/a Westfield
Westfield Center, OHFinance & Insurance2,560 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3,490Employer $ per active participant
$9,560Employee $ saved per active participant
0.07%Direct admin cost, % of plan assets
$515.5MNet plan assets, end of year
$155,747Average balance per account
Score breakdown
- Employer generosity17.9 / 5036th percentile for employer $ per participant
- Low cost16.6 / 2566th percentile for low admin cost vs. same-size plans
- Employee saving9.5 / 1564th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score54 / 100 · Grade C
This plan vs. peers
Peers: Finance & Insurance plans with 2,500–9,999 active participants (199 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 36th |
| Lower admin cost | 66th |
| Employee saving | 64th |
| Peers that auto-enroll | 66% |
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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
- Ohio Farmers Insurance put in about $3,490 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 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 | $8,936,454 |
| Participant (employee) contributions | $24,477,513 |
| Other contributions (incl. rollovers in) | $6,043,760 |
| Administrative expenses paid from the plan | $364,977 |
| Investment advisory & management fees | $82,746 |
| Other admin expenses | $3,680 |
| Benefits paid out | $45,331,630 |
| Net assets, start / end of year | $461.7M / $515.5M |
| Active participants, start / end of year | 2,505 / 2,616 |
| Participants with account balances | 3,310 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | D'amico Wawrin & Company Cpas, LLC |
Largest service providers (Schedule C)
| T Rowe Price RPS Inc | $263,351 reported compensation |
| Newport Capital Group LLC | $62,060 reported compensation |
| Newport Group Securities | $20,686 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250729142656NAL0002940353001, received 2025-07-29, EIN 34-0438190, plan #004, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.