Sirius Global Services, LLC 401(k) Review & Grade
Employee Retirement Plan for Siriuspoint Companies
New York, NYFinance & Insurance608 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$6,955Employer $ per active participant
$10,330Employee $ saved per active participant
0.08%Direct admin cost, % of plan assets
$118.0MNet plan assets, end of year
$140,424Average balance per account
Score breakdown
- Employer generosity41.6 / 5083th percentile for employer $ per participant
- Low cost20.0 / 2580th percentile for low admin cost vs. same-size plans
- Employee saving11.5 / 1577th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score80 / 100 · Grade A
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 83th |
| Lower admin cost | 80th |
| Employee saving | 77th |
| 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
Corrective distributions: the plan refunded $3,932 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Sirius Global Services put in about $6,955 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 | $4,225,361 |
| Participant (employee) contributions | $6,275,641 |
| Other contributions (incl. rollovers in) | $1,368,670 |
| Administrative expenses paid from the plan | $85,083 |
| Investment advisory & management fees | $11,700 |
| Other admin expenses | $15,895 |
| Benefits paid out | $12,182,421 |
| Net assets, start / end of year | $102.4M / $118.0M |
| Active participants, start / end of year | 598 / 617 |
| Participants with account balances | 840 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Baker Tilly US, LLP |
Largest service providers (Schedule C)
| Empower Life & Annuity Insurance Co | $57,488 reported compensation |
| Empower Advisory Group, LLC | $11,700 reported compensation |
| Empower Financial Services, Inc. | $60 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251010132639NAL0012676480001, received 2025-10-10, EIN 74-3152132, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.