Selectquote Insurance Services 401(k) Review & Grade
Selectquote Retirement Plan
Overland Park, KSFinance & Insurance3,604 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,398Employer $ per active participant
$5,447Employee $ saved per active participant
0.22%Direct admin cost, % of plan assets
$139.8MNet plan assets, end of year
$55,617Average balance per account
Score breakdown
- Employer generosity8.6 / 5017th percentile for employer $ per participant
- Low cost7.7 / 2531th percentile for low admin cost vs. same-size plans
- Employee saving2.3 / 1515th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score16 / 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 | 17th |
| Lower admin cost | 31th |
| Employee saving | 15th |
| Peers that auto-enroll | 66% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($7,190 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $615,306 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Selectquote Insurance Services put in about $2,398 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.
- Direct plan expenses (0.22% of assets) are well above similar-size plans (0.12%). Check your annual fee disclosure, choose low-cost index funds if you can, and think about whether savings beyond the match belong in an IRA.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- The plan reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- 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 | $8,641,428 |
| Participant (employee) contributions | $19,631,829 |
| Other contributions (incl. rollovers in) | $3,722,972 |
| Administrative expenses paid from the plan | $270,708 |
| Investment advisory & management fees | $63,217 |
| Benefits paid out | $10,734,325 |
| Net assets, start / end of year | $103.9M / $139.8M |
| Active participants, start / end of year | 4,080 / 3,128 |
| Participants with account balances | 2,513 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Pickett, Chaney & Mcmullen LLP |
Largest service providers (Schedule C)
| Schwab Retirement Plan Services,inc | $270,258 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20260304140315NAL0003203153001, received 2026-03-04, EIN 68-0027389, plan #001, plan year 2024-07-01 to 2025-06-30. Verify at efast.dol.gov.