Central National Gottesman Inc. 401(k) Review & Grade
Central National Gottesman Inc. 401(k) Plan
Purchase, NYFinance & Insurance1,420 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,345Employer $ per active participant
$8,663Employee $ saved per active participant
0.04%Direct admin cost, % of plan assets
$283.7MNet plan assets, end of year
$165,244Average balance per account
Score breakdown
- Employer generosity6.4 / 5013th percentile for employer $ per participant
- Low cost22.3 / 2589th percentile for low admin cost vs. same-size plans
- Employee saving10.1 / 1567th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score49 / 100 · Grade C
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 13th |
| Lower admin cost | 89th |
| Employee saving | 67th |
| 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 National Gottesman put in about $1,345 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.
- 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 | $1,909,311 |
| Participant (employee) contributions | $12,297,110 |
| Other contributions (incl. rollovers in) | $397,964 |
| Administrative expenses paid from the plan | $117,529 |
| Other admin expenses | $875 |
| Benefits paid out | $18,668,052 |
| Net assets, start / end of year | $251.5M / $283.7M |
| Active participants, start / end of year | 1,419 / 1,420 |
| Participants with account balances | 1,717 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Crowe LLP |
Largest service providers (Schedule C)
| The Vanguard Group Inc | $117,529 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250529143848NAL0007421329001, received 2025-05-29, EIN 13-0425246, plan #004, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.