New York Life Insurance Company 401(k) Review & Grade
New York Life Insurance Company Agents Progress- Sharing Investment Plan
New York, NYFinance & Insurance11,328 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$126Employer $ per active participant
$4,833Employee $ saved per active participant
0.04%Direct admin cost, % of plan assets
$1.2BNet plan assets, end of year
$103,863Average balance per account
Score breakdown
- Employer generosity0.0 / 500th percentile for employer $ per participant
- Low cost19.9 / 2580th percentile for low admin cost vs. same-size plans
- Employee saving0.0 / 150th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score23 / 100 · Grade F
This plan vs. peers
Peers: Finance & Insurance plans with 10,000+ active participants (72 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 0th |
| Lower admin cost | 80th |
| Employee saving | 0th |
| Peers that auto-enroll | 74% |
Get the monthly 401(k) report card
The best and worst plans, new grades as filings post. One email a month, no spam.
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
- New York Life Insurance put in about $126 per active participant, below the typical peer ($5,179). 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 | $1,425,808 |
| Participant (employee) contributions | $54,751,634 |
| Other contributions (incl. rollovers in) | $669,431 |
| Administrative expenses paid from the plan | $405,509 |
| Investment advisory & management fees | $405,055 |
| Other admin expenses | $454 |
| Benefits paid out | $94,132,410 |
| Net assets, start / end of year | $1.1B / $1.2B |
| Active participants, start / end of year | 11,238 / 11,418 |
| Participants with account balances | 11,245 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Pricewaterhouse Coopers LLC |
Largest service providers (Schedule C)
| Alight Financial Advisors | $405,055 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251009111342NAL0003847731001, received 2025-10-09, EIN 13-5582869, plan #006, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.