Usable Mutual Insurance Company 401(k) Review & Grade
Arkansas Blue Cross and Blue Shield 401(k) Savings and Plus Plan · d/b/a Ar Blue Cross and Blue Shield
Little Rock, ARFinance & Insurance3,375 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$5,010Employer $ per active participant
$8,076Employee $ saved per active participant
0.07%Direct admin cost, % of plan assets
$788.6MNet plan assets, end of year
$192,398Average balance per account
Score breakdown
- Employer generosity28.5 / 5057th percentile for employer $ per participant
- Low cost16.8 / 2567th percentile for low admin cost vs. same-size plans
- Employee saving6.7 / 1545th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score62 / 100 · Grade B
This plan vs. peers
Peers: Finance & Insurance plans with 2,500–9,999 active participants (199 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 57th |
| Lower admin cost | 67th |
| Employee saving | 45th |
| 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
- Usable Mutual Insurance put in about $5,010 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 | $16,909,068 |
| Participant (employee) contributions | $27,255,112 |
| Other contributions (incl. rollovers in) | $1,208,389 |
| Administrative expenses paid from the plan | $552,858 |
| Investment advisory & management fees | $552,858 |
| Benefits paid out | $75,182,907 |
| Net assets, start / end of year | $728.9M / $788.6M |
| Active participants, start / end of year | 3,398 / 3,352 |
| Participants with account balances | 4,099 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Rasco Winter Thomas Group |
Largest service providers (Schedule C)
| Vanguard Group Inc. | $552,858 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251030144505NAL0001655379001, received 2025-10-30, EIN 71-0226428, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.