Mutual of Omaha Mortgage, Inc. 401(k) Review & Grade
Mutual of Omaha Mortgage 401(k) Plan
San Diego, CAFinance & Insurance1,292 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,107Employer $ per active participant
$5,939Employee $ saved per active participant
0.24%Direct admin cost, % of plan assets
$67.9MNet plan assets, end of year
$60,641Average balance per account
Score breakdown
- Employer generosity11.0 / 5022th percentile for employer $ per participant
- Low cost12.1 / 2548th percentile for low admin cost vs. same-size plans
- Employee saving5.1 / 1534th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score28 / 100 · Grade F
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 22th |
| Lower admin cost | 48th |
| Employee saving | 34th |
| Peers that auto-enroll | 62% |
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Red flags from the filing
Corrective distributions: the plan refunded $26,990 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Mutual of Omaha Mortgage put in about $2,107 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.
- 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 | $2,720,693 |
| Participant (employee) contributions | $7,669,625 |
| Other contributions (incl. rollovers in) | $2,425,786 |
| Administrative expenses paid from the plan | $147,785 |
| Investment advisory & management fees | $113,690 |
| Benefits paid out | $6,267,116 |
| Net assets, start / end of year | $54.1M / $67.9M |
| Active participants, start / end of year | 1,243 / 1,340 |
| Participants with account balances | 1,120 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Lee CPA Audit Group |
Largest service providers (Schedule C)
| Accelerate Investment Advisors LLC | $112,640 reported compensation |
| Adp, Inc. | $26,721 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250724074351NAL0004349617001, received 2025-07-24, EIN 46-1728831, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.