Auto-Owners Insurance Company 401(k) Review & Grade
Auto-Owners Insurance Company Retirement Savings Plan
Lansing, MIFinance & Insurance6,838 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,763Employer $ per active participant
$5,727Employee $ saved per active participant
0.06%Direct admin cost, % of plan assets
$864.3MNet plan assets, end of year
$96,573Average balance per account
Score breakdown
- Employer generosity11.4 / 5023th percentile for employer $ per participant
- Low cost18.9 / 2575th percentile for low admin cost vs. same-size plans
- Employee saving2.7 / 1518th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score43 / 100 · Grade D
This plan vs. peers
Peers: Finance & Insurance plans with 2,500–9,999 active participants (199 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 23th |
| Lower admin cost | 75th |
| Employee saving | 18th |
| 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
- Auto-Owners Insurance put in about $2,763 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 | $18,893,020 |
| Participant (employee) contributions | $39,160,362 |
| Other contributions (incl. rollovers in) | $2,970,333 |
| Administrative expenses paid from the plan | $455,173 |
| Other admin expenses | $455,173 |
| Benefits paid out | $56,570,247 |
| Net assets, start / end of year | $772.9M / $864.3M |
| Active participants, start / end of year | 6,663 / 7,012 |
| Participants with account balances | 8,950 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Maner Costerisan |
Largest service providers (Schedule C)
| Vanguard Advisers Inc. | $354,161 reported compensation |
| The Vanguard Group, Inc. | $101,012 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250730143035NAL0004883729001, received 2025-07-30, EIN 38-0315280, plan #004, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.