Penn Mutual Life Insurance Company 401(k) Review & Grade
Penn Mutual Agents' 401(k) Plan
Horsham, PAFinance & Insurance546 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,407Employer $ per active participant
$6,966Employee $ saved per active participant
0.08%Direct admin cost, % of plan assets
$75.1MNet plan assets, end of year
$76,840Average balance per account
Score breakdown
- Employer generosity6.5 / 5013th percentile for employer $ per participant
- Low cost20.0 / 2580th percentile for low admin cost vs. same-size plans
- Employee saving7.4 / 1549th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score44 / 100 · Grade D
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 13th |
| Lower admin cost | 80th |
| Employee saving | 49th |
| Peers that auto-enroll | 62% |
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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
- Penn Mutual Life Insurance put in about $1,407 per active participant, below the typical peer ($3,606). 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 | $768,139 |
| Participant (employee) contributions | $3,803,672 |
| Other contributions (incl. rollovers in) | $99,136 |
| Administrative expenses paid from the plan | $56,936 |
| Benefits paid out | $13,741,244 |
| Net assets, start / end of year | $74.7M / $75.1M |
| Active participants, start / end of year | 532 / 560 |
| Participants with account balances | 978 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Johnson Lambert LLP |
Largest service providers (Schedule C)
| Transamerica Retirement Solutions | $57,934 reported compensation |
| Fidelity Investments Institutional | $401 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013120340NAL0000570355001, received 2025-10-13, EIN 23-0952300, plan #013, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.