Penn Mutual Life Insurance Company 401(k) Review & Grade
The Penn Mutual Retirement & Savings Plan
Horsham, PAFinance & Insurance1,033 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$13,225Employer $ per active participant
$10,310Employee $ saved per active participant
0.02%Direct admin cost, % of plan assets
$489.8MNet plan assets, end of year
$283,283Average balance per account
Score breakdown
- Employer generosity48.1 / 5096th percentile for employer $ per participant
- Low cost23.8 / 2595th percentile for low admin cost vs. same-size plans
- Employee saving11.5 / 1576th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score93 / 100 · Grade A
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 96th |
| Lower admin cost | 95th |
| Employee saving | 76th |
| 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
- Penn Mutual Life Insurance put in about $13,225 per active participant, more than the typical peer ($3,606). 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 | $13,661,156 |
| Participant (employee) contributions | $10,650,004 |
| Other contributions (incl. rollovers in) | $5,119,259 |
| Administrative expenses paid from the plan | $91,612 |
| Benefits paid out | $59,161,495 |
| Net assets, start / end of year | $400.6M / $489.8M |
| Active participants, start / end of year | 1,006 / 1,060 |
| Participants with account balances | 1,729 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Johnson Lambert LLP |
Largest service providers (Schedule C)
| Transamerica Retirement Solutions | $113,826 reported compensation |
| Fidelity Investments Institutional | $722 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013141326NAL0002145472001, received 2025-10-13, EIN 23-0952300, plan #008, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.