Nationwide Mutual Insurance Company 401(k) Review & Grade
Nationwide Savings Plan
Columbus, OHFinance & Insurance23,498 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3,741Employer $ per active participant
$11,732Employee $ saved per active participant
0.03%Direct admin cost, % of plan assets
$8.3BNet plan assets, end of year
$207,819Average balance per account
Score breakdown
- Employer generosity14.1 / 5028th percentile for employer $ per participant
- Low cost21.8 / 2587th 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 score54 / 100 · Grade C
This plan vs. peers
Peers: Finance & Insurance plans with 10,000+ active participants (72 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 28th |
| Lower admin cost | 87th |
| Employee saving | 76th |
| Peers that auto-enroll | 74% |
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Red flags from the filing
Corrective distributions: the plan refunded $28,026 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Nationwide Mutual Insurance put in about $3,741 per active participant, below the typical peer ($5,179). 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 | $87,908,487 |
| Participant (employee) contributions | $275,681,992 |
| Other contributions (incl. rollovers in) | $32,918,708 |
| Administrative expenses paid from the plan | $2,001,527 |
| Contract administrator fees | $13,800 |
| Investment advisory & management fees | $920,530 |
| Benefits paid out | $733,362,989 |
| Net assets, start / end of year | $7.6B / $8.3B |
| Active participants, start / end of year | 24,370 / 22,626 |
| Participants with account balances | 40,008 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | KPMG LLP |
Largest service providers (Schedule C)
| Fid Inv Instl Ops Co | $1,093,730 reported compensation |
| Financial Engines | $920,530 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014085508NAL0005127714001, received 2025-10-14, EIN 31-4177100, plan #334, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.