Equitable Financial Life Insurance Company 401(k) Review & Grade
The Equitable 401(k) Plan
Syracuse, NYFinance & Insurance7,412 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$8,113Employer $ per active participant
$12,790Employee $ saved per active participant
0.04%Direct admin cost, % of plan assets
$2.6BNet plan assets, end of year
$205,148Average balance per account
Score breakdown
- Employer generosity41.2 / 5082th percentile for employer $ per participant
- Low cost21.0 / 2584th percentile for low admin cost vs. same-size plans
- Employee saving13.0 / 1586th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score75 / 100 · Grade A
This plan vs. peers
Peers: Finance & Insurance plans with 2,500–9,999 active participants (199 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 82th |
| Lower admin cost | 84th |
| Employee saving | 86th |
| 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
- Equitable Financial Life Insurance put in about $8,113 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.
- 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 | $60,131,831 |
| Participant (employee) contributions | $94,801,393 |
| Other contributions (incl. rollovers in) | $0 |
| Administrative expenses paid from the plan | $1,008,523 |
| Other admin expenses | $314,024 |
| Benefits paid out | $278,660,182 |
| Net assets, start / end of year | $2.4B / $2.6B |
| Active participants, start / end of year | 7,275 / 7,549 |
| Participants with account balances | 12,912 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Pricewaterhousecoopers LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $363,862 reported compensation |
| Lbi Software Engineering | $300,000 reported compensation |
| Equitable | $283,769 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014073636NAL0003297504001, received 2025-10-14, EIN 13-5570651, plan #005, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.