Privilege Underwriters, Inc. 401(k) Review & Grade
Privilege Underwriters, Inc. 401(k) Plan
White Plains, NYFinance & Insurance1,111 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$6,231Employer $ per active participant
$11,120Employee $ saved per active participant
0.14%Direct admin cost, % of plan assets
$169.2MNet plan assets, end of year
$124,894Average balance per account
Score breakdown
- Employer generosity38.6 / 5077th percentile for employer $ per participant
- Low cost16.2 / 2565th percentile for low admin cost vs. same-size plans
- Employee saving12.0 / 1580th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score67 / 100 · Grade B
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 77th |
| Lower admin cost | 65th |
| Employee saving | 80th |
| Peers that auto-enroll | 62% |
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Red flags from the filing
Corrective distributions: the plan refunded $4,408 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Privilege Underwriters put in about $6,231 per active participant, more than the typical peer ($3,606). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- 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 | $6,923,146 |
| Participant (employee) contributions | $12,354,293 |
| Other contributions (incl. rollovers in) | $2,776,973 |
| Administrative expenses paid from the plan | $216,964 |
| Investment advisory & management fees | $100,299 |
| Benefits paid out | $8,952,982 |
| Net assets, start / end of year | $135.9M / $169.2M |
| Active participants, start / end of year | 1,089 / 1,133 |
| Participants with account balances | 1,355 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Eisneramperllp |
Largest service providers (Schedule C)
| Park Avenue Securities | $100,299 reported compensation |
| Fidelity Investments Institutional | $83,590 reported compensation |
| Eisneramper LLP | $33,075 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015213410NAL0002908195001, received 2025-10-15, EIN 84-1699173, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.