The Allstate Corporation 401(k) Review & Grade
Allstate 401(k) Savings Plan
Dallas, TXManagement of Companies39,108 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3,220Employer $ per active participant
$9,155Employee $ saved per active participant
0.11%Direct admin cost, % of plan assets
$7.6BNet plan assets, end of year
$126,817Average balance per account
Score breakdown
- Employer generosity30.5 / 5061th percentile for employer $ per participant
- Low cost10.0 / 2540th percentile for low admin cost vs. same-size plans
- Employee saving11.4 / 1576th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score59 / 100 · Grade C
This plan vs. peers
Peers: all industries, plans with 10,000+ active participants (fewer than 30 industry peers) (820 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 61th |
| Lower admin cost | 40th |
| Employee saving | 76th |
| Peers that auto-enroll | 50% |
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Red flags from the filing
Corrective distributions: the plan refunded $55,960 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Allstate put in about $3,220 per active participant, more than the typical peer ($2,229). 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 | $125,908,285 |
| Participant (employee) contributions | $358,009,879 |
| Other contributions (incl. rollovers in) | – |
| Administrative expenses paid from the plan | $7,929,907 |
| Investment advisory & management fees | $5,311,960 |
| Other admin expenses | $32,969 |
| Benefits paid out | $684,983,324 |
| Net assets, start / end of year | $6.8B / $7.6B |
| Active participants, start / end of year | 38,761 / 39,454 |
| Participants with account balances | 60,084 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Crowe LLP |
| Employer stock held by plan | $727,291,792 |
Largest service providers (Schedule C)
| Alight Financial Advisors, LLC | $3,772,792 reported compensation |
| Alight Solutions LLC | $2,561,545 reported compensation |
| State Street Global Advisors Tru Co | $933,255 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251007160533NAL0002597571001, received 2025-10-07, EIN 36-3871531, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.