Zurich American Insurance Company 401(k) Review & Grade
Zurich Savings Plan
Schaumburg, ILFinance & Insurance9,520 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$11,786Employer $ per active participant
$11,209Employee $ saved per active participant
0.02%Direct admin cost, % of plan assets
$3.7BNet plan assets, end of year
$256,742Average balance per account
Score breakdown
- Employer generosity45.7 / 5091th percentile for employer $ per participant
- Low cost23.5 / 2594th percentile for low admin cost vs. same-size plans
- Employee saving11.7 / 1578th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score88 / 100 · Grade A
This plan vs. peers
Peers: Finance & Insurance plans with 2,500–9,999 active participants (199 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 91th |
| Lower admin cost | 94th |
| Employee saving | 78th |
| Peers that auto-enroll | 66% |
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Red flags from the filing
Corrective distributions: the plan refunded $10,217 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Zurich American Insurance put in about $11,786 per active participant, more than the typical peer ($4,489). 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 | $112,199,105 |
| Participant (employee) contributions | $106,703,566 |
| Other contributions (incl. rollovers in) | $24,588,978 |
| Administrative expenses paid from the plan | $755,579 |
| Other admin expenses | $755,579 |
| Benefits paid out | $317,077,775 |
| Net assets, start / end of year | $3.4B / $3.7B |
| Active participants, start / end of year | 9,301 / 9,738 |
| Participants with account balances | 14,357 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Ernst & Young LLP |
Largest service providers (Schedule C)
| The Vanguard Group, Inc. | $624,256 reported compensation |
| Vanguard Advisers Inc. | $170,002 reported compensation |
| Charles Schwab & Co., Inc. | $6,219 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013135609NAL0002108768001, received 2025-10-13, EIN 36-4233459, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.