Amtrust North America Inc. 401(k) Review & Grade
Amtrust Retirement Plan
New York, NYFinance & Insurance4,460 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,258Employer $ per active participant
$7,754Employee $ saved per active participant
0.13%Direct admin cost, % of plan assets
$458.1MNet plan assets, end of year
$76,278Average balance per account
Score breakdown
- Employer generosity7.8 / 5016th percentile for employer $ per participant
- Low cost12.1 / 2548th percentile for low admin cost vs. same-size plans
- Employee saving6.4 / 1542th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score33 / 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 | 16th |
| Lower admin cost | 48th |
| Employee saving | 42th |
| Peers that auto-enroll | 66% |
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Red flags from the filing
Corrective distributions: the plan refunded $1,655 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Amtrust North America put in about $2,258 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.
- 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 | $10,071,057 |
| Participant (employee) contributions | $34,588,900 |
| Other contributions (incl. rollovers in) | $8,020,063 |
| Administrative expenses paid from the plan | $549,632 |
| Investment advisory & management fees | $234,960 |
| Other admin expenses | $1,200 |
| Benefits paid out | $48,365,636 |
| Net assets, start / end of year | $398.6M / $458.1M |
| Active participants, start / end of year | 4,442 / 4,479 |
| Participants with account balances | 6,006 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Goldgrab CPA PLLC |
Largest service providers (Schedule C)
| Empower Life & Annuity Insurance Co | $344,888 reported compensation |
| Empower Advisory Group, LLC | $127,648 reported compensation |
| Usi Advisors Inc | $45,896 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251009134945NAL0011063456001, received 2025-10-09, EIN 04-3106389, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.