Kin Insurance 401(k) Review & Grade
Kin Insurance Retirement Savings Plan
Chicago, ILFinance & Insurance578 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$3,507Employer $ per active participant
$7,949Employee $ saved per active participant
0.66%Direct admin cost, % of plan assets
$20.9MNet plan assets, end of year
$37,927Average balance per account
Score breakdown
- Employer generosity24.2 / 5048th percentile for employer $ per participant
- Low cost3.7 / 2515th percentile for low admin cost vs. same-size plans
- Employee saving8.9 / 1560th percentile for employee $ per participant
- Plan features3 / 10Default investment
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 | 48th |
| Lower admin cost | 15th |
| Employee saving | 60th |
| 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
- Kin Insurance put in about $3,507 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.
- Direct plan expenses (0.66% of assets) are well above similar-size plans (0.23%). Check your annual fee disclosure, choose low-cost index funds if you can, and think about whether savings beyond the match belong in an IRA.
- 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 | $2,027,301 |
| Participant (employee) contributions | $4,594,313 |
| Other contributions (incl. rollovers in) | $1,659,574 |
| Administrative expenses paid from the plan | $109,383 |
| Contract administrator fees | $52,375 |
| Investment advisory & management fees | $57,008 |
| Benefits paid out | $1,674,981 |
| Net assets, start / end of year | $12.3M / $20.9M |
| Active participants, start / end of year | 477 / 679 |
| Participants with account balances | 552 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Cherry Bekaert |
Largest service providers (Schedule C)
| Creative Planning | $57,008 reported compensation |
| John Hancock Retirement Plan Svcs | $52,375 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015095947NAL0004243521001, received 2025-10-15, EIN 81-3300698, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.