The Nassau Financial Group 401(k) Review & Grade
The Nassau Companies of New York Savings and Investment Plan
Hartford, CTFinance & Insurance530 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$5,725Employer $ per active participant
$10,693Employee $ saved per active participant
0.10%Direct admin cost, % of plan assets
$228.7MNet plan assets, end of year
$207,901Average balance per account
Score breakdown
- Employer generosity36.9 / 5074th percentile for employer $ per participant
- Low cost18.2 / 2573th percentile for low admin cost vs. same-size plans
- Employee saving11.8 / 1579th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score70 / 100 · Grade B
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 74th |
| Lower admin cost | 73th |
| Employee saving | 79th |
| 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
- Nassau Financial Group put in about $5,725 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.
- 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 | $3,034,441 |
| Participant (employee) contributions | $5,667,034 |
| Other contributions (incl. rollovers in) | $2,825,971 |
| Administrative expenses paid from the plan | $230,310 |
| Investment advisory & management fees | $77,708 |
| Benefits paid out | $23,633,384 |
| Net assets, start / end of year | $210.9M / $228.7M |
| Active participants, start / end of year | 506 / 554 |
| Participants with account balances | 1,100 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Cohnreznick LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $109,552 reported compensation |
| Capital Strategies Investment Group | $65,000 reported compensation |
| Cohnreznick, LLP | $43,050 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251010104356NAL0012349744001, received 2025-10-10, EIN 06-1599088, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.