Edgewood Partners Insurance Center 401(k) Review & Grade
Edgewood Partners Insurance Center Savings Investment Plan
New Yorik, NYFinance & Insurance3,100 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$4,654Employer $ per active participant
$12,028Employee $ saved per active participant
0.01%Direct admin cost, % of plan assets
$527.2MNet plan assets, end of year
$150,456Average balance per account
Score breakdown
- Employer generosity26.8 / 5054th percentile for employer $ per participant
- Low cost24.1 / 2596th percentile for low admin cost vs. same-size plans
- Employee saving12.5 / 1583th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score56 / 100 · Grade C
This plan vs. peers
Peers: Finance & Insurance plans with 2,500–9,999 active participants (199 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 54th |
| Lower admin cost | 96th |
| Employee saving | 83th |
| Peers that auto-enroll | 66% |
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Red flags from the filing
Benefits not paid when due: the plan reported failing to pay some benefits on time.
What to do if you're in this plan
- Edgewood Partners Insurance Center put in about $4,654 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.
- 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 | $14,426,608 |
| Participant (employee) contributions | $37,287,003 |
| Other contributions (incl. rollovers in) | $10,425,987 |
| Administrative expenses paid from the plan | $73,198 |
| Contract administrator fees | $900 |
| Investment advisory & management fees | $64,414 |
| Benefits paid out | $63,034,775 |
| Net assets, start / end of year | $461.3M / $527.2M |
| Active participants, start / end of year | 3,010 / 3,190 |
| Participants with account balances | 3,504 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Withum Smith and Brown PC |
Largest service providers (Schedule C)
| Equitable Advisors LLC | $64,415 reported compensation |
| Fidelity Investments Institutional | $8,784 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014121107NAL0001354531001, received 2025-10-14, EIN 94-3195221, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.