Selective Insurance Company of America 401(k) Review & Grade
Selective Insurance Retirement Savings Plan
Branchville, NJFinance & Insurance2,752 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$8,395Employer $ per active participant
$9,810Employee $ saved per active participant
0.06%Direct admin cost, % of plan assets
$764.2MNet plan assets, end of year
$207,210Average balance per account
Score breakdown
- Employer generosity42.2 / 5084th percentile for employer $ per participant
- Low cost18.7 / 2575th percentile for low admin cost vs. same-size plans
- Employee saving9.7 / 1565th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score81 / 100 · Grade A
This plan vs. peers
Peers: Finance & Insurance plans with 2,500–9,999 active participants (199 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 84th |
| Lower admin cost | 75th |
| Employee saving | 65th |
| Peers that auto-enroll | 66% |
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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
- Selective Insurance Company of America put in about $8,395 per active participant, more than the typical peer ($4,489). 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.
- 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 | $23,107,206 |
| Participant (employee) contributions | $27,002,282 |
| Other contributions (incl. rollovers in) | $5,293,154 |
| Administrative expenses paid from the plan | $414,360 |
| Investment advisory & management fees | $215,395 |
| Other admin expenses | $5,392 |
| Benefits paid out | $50,926,914 |
| Net assets, start / end of year | $676.6M / $764.2M |
| Active participants, start / end of year | 2,687 / 2,818 |
| Participants with account balances | 3,688 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Crowe LLP |
| Employer stock held by plan | $3,564,268 |
Largest service providers (Schedule C)
| T Rowe Price RPS Inc | $190,417 reported compensation |
| Financial Engines | $105,337 reported compensation |
| Willis Towers Watson US LLC | $64,607 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251003125511NAL0003448866001, received 2025-10-03, EIN 22-1272390, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.