Symetra Life Insurance Company 401(k) Review & Grade
Symetra Financial Retirement Savings Plan
Bellevue, WAFinance & Insurance2,558 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$6,636Employer $ per active participant
$10,977Employee $ saved per active participant
0.05%Direct admin cost, % of plan assets
$552.0MNet plan assets, end of year
$173,298Average balance per account
Score breakdown
- Employer generosity35.9 / 5072th percentile for employer $ per participant
- Low cost19.5 / 2578th percentile for low admin cost vs. same-size plans
- Employee saving11.2 / 1575th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score67 / 100 · Grade B
This plan vs. peers
Peers: Finance & Insurance plans with 2,500–9,999 active participants (199 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 72th |
| Lower admin cost | 78th |
| Employee saving | 75th |
| Peers that auto-enroll | 66% |
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Red flags from the filing
Corrective distributions: the plan refunded $1,125 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Symetra Life Insurance put in about $6,636 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.
- 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 | $16,971,493 |
| Participant (employee) contributions | $28,073,959 |
| Other contributions (incl. rollovers in) | $7,229,988 |
| Administrative expenses paid from the plan | $258,310 |
| Contract administrator fees | $1,200 |
| Investment advisory & management fees | $182,614 |
| Other admin expenses | $20,640 |
| Benefits paid out | $36,565,012 |
| Net assets, start / end of year | $461.7M / $552.0M |
| Active participants, start / end of year | 2,500 / 2,615 |
| Participants with account balances | 3,185 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Clark Nuber, P.S. |
Largest service providers (Schedule C)
| Strategic Advisors, Inc. | $182,614 reported compensation |
| Fidelity Investments Institutional | $76,679 reported compensation |
| Clark Nuber, P.S. | $20,640 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250722174911NAL0001412803001, received 2025-07-22, EIN 91-0742147, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.