American Financial Group, Inc. 401(k) Review & Grade
American Financial Group 401k Retirement and Savings Plan
Cincinnati, OHManagement of Companies7,695 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$7,776Employer $ per active participant
$10,329Employee $ saved per active participant
0.03%Direct admin cost, % of plan assets
$2.3BNet plan assets, end of year
$227,772Average balance per account
Score breakdown
- Employer generosity46.6 / 5093th percentile for employer $ per participant
- Low cost22.6 / 2590th percentile for low admin cost vs. same-size plans
- Employee saving12.5 / 1583th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score89 / 100 · Grade A
This plan vs. peers
Peers: Management of Companies plans with 2,500–9,999 active participants (60 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 93th |
| Lower admin cost | 90th |
| Employee saving | 83th |
| Peers that auto-enroll | 58% |
Get the monthly 401(k) report card
The best and worst plans, new grades as filings post. One email a month, no spam.
Red flags from the filing
Corrective distributions: the plan refunded $19,297 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- American Financial Group put in about $7,776 per active participant, more than the typical peer ($3,455). 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 | $59,835,917 |
| Participant (employee) contributions | $79,480,884 |
| Other contributions (incl. rollovers in) | $13,001,190 |
| Administrative expenses paid from the plan | $652,523 |
| Other admin expenses | $156,250 |
| Benefits paid out | $208,058,249 |
| Net assets, start / end of year | $2.1B / $2.3B |
| Active participants, start / end of year | 7,600 / 7,790 |
| Participants with account balances | 10,176 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Clark, Schaefer, Hackett & Co |
| Employer stock held by plan | $355,154,948 |
Largest service providers (Schedule C)
| Merrill Lynch, Pierce, Fenner & Smi | $476,573 reported compensation |
| Ubs Financial Services Inc | $156,250 reported compensation |
| Clark Schaefer Hacket | $19,700 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013080926NAL0000365971001, received 2025-10-13, EIN 31-1544320, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.