Central Mutual Insurance Company 401(k) Review & Grade
Central Employees' Savings and Profit Participation Plan
Van Wert, OHFinance & Insurance754 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,579Employer $ per active participant
$9,556Employee $ saved per active participant
0.05%Direct admin cost, % of plan assets
$196.5MNet plan assets, end of year
$195,695Average balance per account
Score breakdown
- Employer generosity7.7 / 5015th percentile for employer $ per participant
- Low cost21.7 / 2587th percentile for low admin cost vs. same-size plans
- Employee saving10.9 / 1573th percentile for employee $ per participant
- Plan features0 / 10No auto-enrollment or default investment reported
Total score40 / 100 · Grade D
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 15th |
| Lower admin cost | 87th |
| Employee saving | 73th |
| Peers that auto-enroll | 62% |
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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
- Central Mutual Insurance put in about $1,579 per active participant, below the typical peer ($3,606). 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.
- 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 | $1,189,445 |
| Participant (employee) contributions | $7,200,397 |
| Other contributions (incl. rollovers in) | $3,768,690 |
| Administrative expenses paid from the plan | $96,105 |
| Other admin expenses | $96,105 |
| Benefits paid out | $16,481,168 |
| Net assets, start / end of year | $178.1M / $196.5M |
| Active participants, start / end of year | 757 / 750 |
| Participants with account balances | 1,004 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Plante & Moran, PLLC |
Largest service providers (Schedule C)
| The Vanguard Group, Inc. | $100,255 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250708074822NAL0002495731001, received 2025-07-08, EIN 34-4202560, plan #004, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.