Cno Services, LLC 401(k) Review & Grade
Cno 401k Plan
Carmel, INFinance & Insurance3,441 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3,299Employer $ per active participant
$7,960Employee $ saved per active participant
0.12%Direct admin cost, % of plan assets
$597.0MNet plan assets, end of year
$116,593Average balance per account
Score breakdown
- Employer generosity16.9 / 5034th percentile for employer $ per participant
- Low cost12.9 / 2551th percentile for low admin cost vs. same-size plans
- Employee saving6.5 / 1543th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
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 | 34th |
| Lower admin cost | 51th |
| Employee saving | 43th |
| Peers that auto-enroll | 66% |
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Red flags from the filing
Corrective distributions: the plan refunded $1,980 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Cno Services put in about $3,299 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 | $11,351,568 |
| Participant (employee) contributions | $27,390,102 |
| Other contributions (incl. rollovers in) | $4,638,819 |
| Administrative expenses paid from the plan | $658,911 |
| Other admin expenses | $658,911 |
| Benefits paid out | $45,322,039 |
| Net assets, start / end of year | $525.6M / $597.0M |
| Active participants, start / end of year | 3,452 / 3,430 |
| Participants with account balances | 5,120 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Forvis Mazars, LLP |
Largest service providers (Schedule C)
| The Vanguard Group, Inc. | $364,126 reported compensation |
| Vanguard Advisers Inc. | $214,840 reported compensation |
| Fiducient Advisors LLC | $93,745 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250728135701NAL0003084208001, received 2025-07-28, EIN 35-1965822, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.