Onemain General Services Corporation 401(k) Review & Grade
Onemain 401(k) Plan
Evansville, INFinance & Insurance9,121 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,132Employer $ per active participant
$4,121Employee $ saved per active participant
0.14%Direct admin cost, % of plan assets
$650.6MNet plan assets, end of year
$76,010Average balance per account
Score breakdown
- Employer generosity6.8 / 5014th percentile for employer $ per participant
- Low cost11.3 / 2545th percentile for low admin cost vs. same-size plans
- Employee saving0.7 / 155th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score9 / 100 · Grade F
This plan vs. peers
Peers: Finance & Insurance plans with 2,500–9,999 active participants (199 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 14th |
| Lower admin cost | 45th |
| Employee saving | 5th |
| Peers that auto-enroll | 66% |
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Red flags from the filing
Benefits not paid when due: the plan reported failing to pay some benefits on time.
Corrective distributions: the plan refunded $417 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Onemain General Services put in about $2,132 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.
- 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 | $19,445,437 |
| Participant (employee) contributions | $37,583,551 |
| Other contributions (incl. rollovers in) | $7,337,130 |
| Administrative expenses paid from the plan | $882,043 |
| Contract administrator fees | $1,500 |
| Investment advisory & management fees | $310,170 |
| Benefits paid out | $66,586,811 |
| Net assets, start / end of year | $582.7M / $650.6M |
| Active participants, start / end of year | 9,070 / 9,172 |
| Participants with account balances | 8,560 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Whitley Penn LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $536,853 reported compensation |
| Strategic Advisors, Inc. | $216,432 reported compensation |
| Aon Investments USA Inc. | $93,738 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250930180839NAL0013551184001, received 2025-09-30, EIN 46-1095755, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.