Munich Reinsurance America, Inc 401(k) Review & Grade
Munich Re U.S. Savings Plan
Princeton, NJFinance & Insurance4,659 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$12,421Employer $ per active participant
$11,370Employee $ saved per active participant
0.04%Direct admin cost, % of plan assets
$1.8BNet plan assets, end of year
$290,732Average balance per account
Score breakdown
- Employer generosity46.5 / 5093th percentile for employer $ per participant
- Low cost21.2 / 2585th percentile for low admin cost vs. same-size plans
- Employee saving12.0 / 1580th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score87 / 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 | 93th |
| Lower admin cost | 85th |
| Employee saving | 80th |
| Peers that auto-enroll | 66% |
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Red flags from the filing
Corrective distributions: the plan refunded $2,639 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Munich Reinsurance America put in about $12,421 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 | $57,871,093 |
| Participant (employee) contributions | $52,973,840 |
| Other contributions (incl. rollovers in) | $16,566,762 |
| Administrative expenses paid from the plan | $651,819 |
| Investment advisory & management fees | $532,607 |
| Benefits paid out | $142,051,621 |
| Net assets, start / end of year | $1.6B / $1.8B |
| Active participants, start / end of year | 4,627 / 4,691 |
| Participants with account balances | 6,162 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Ernst & Young, LLP |
Largest service providers (Schedule C)
| Empower Advisory Group, LLC | $532,607 reported compensation |
| Empower Annuity Insurance Company O | $119,212 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251007105516NAL0002601235001, received 2025-10-07, EIN 13-4924125, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.