Protective Life Corporation 401(k) Review & Grade
Protective Life Corporation 401(k) Plan
Birmingham, ALFinance & Insurance3,794 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$3,856Employer $ per active participant
$8,264Employee $ saved per active participant
0.09%Direct admin cost, % of plan assets
$695.4MNet plan assets, end of year
$161,228Average balance per account
Score breakdown
- Employer generosity21.0 / 5042th percentile for employer $ per participant
- Low cost15.2 / 2561th percentile for low admin cost vs. same-size plans
- Employee saving7.0 / 1547th percentile for employee $ per participant
- Plan features3 / 10Default 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 | 42th |
| Lower admin cost | 61th |
| Employee saving | 47th |
| Peers that auto-enroll | 66% |
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Red flags from the filing
Corrective distributions: the plan refunded $19,054 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Protective Life put in about $3,856 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 | $14,627,981 |
| Participant (employee) contributions | $31,349,201 |
| Other contributions (incl. rollovers in) | $33,414,692 |
| Administrative expenses paid from the plan | $574,546 |
| Investment advisory & management fees | $305,998 |
| Benefits paid out | $61,382,546 |
| Net assets, start / end of year | $593.6M / $695.4M |
| Active participants, start / end of year | 3,809 / 3,778 |
| Participants with account balances | 4,313 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Warren Averett LLC |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $268,548 reported compensation |
| Strategic Advisors, Inc. | $208,498 reported compensation |
| Capfinancial Partners LLC | $97,500 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251007140122NAL0002728019001, received 2025-10-07, EIN 95-2492236, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.