The Ohio National Life Insurance Company 401(k) Review & Grade
Constellation Insurance Company 401(k) and Profit Sharing Plan
Cincinnati, OHFinance & Insurance820 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3,941Employer $ per active participant
$9,311Employee $ saved per active participant
0.14%Direct admin cost, % of plan assets
$177.0MNet plan assets, end of year
$153,215Average balance per account
Score breakdown
- Employer generosity27.4 / 5055th percentile for employer $ per participant
- Low cost16.3 / 2565th percentile for low admin cost vs. same-size plans
- Employee saving10.7 / 1571th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score61 / 100 · Grade B
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 55th |
| Lower admin cost | 65th |
| Employee saving | 71th |
| Peers that auto-enroll | 62% |
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Red flags from the filing
Corrective distributions: the plan refunded $25,244 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Ohio National Life Insurance put in about $3,941 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 | $3,231,748 |
| Participant (employee) contributions | $7,635,395 |
| Other contributions (incl. rollovers in) | $1,266,208 |
| Administrative expenses paid from the plan | $242,019 |
| Contract administrator fees | $300 |
| Investment advisory & management fees | $121,743 |
| Benefits paid out | $24,580,883 |
| Net assets, start / end of year | $168.1M / $177.0M |
| Active participants, start / end of year | 823 / 817 |
| Participants with account balances | 1,155 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Schulte & Uhrig, Cpas Inc |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $120,576 reported compensation |
| Willis Towers Watson | $99,509 reported compensation |
| Strategic Advisors, Inc. | $22,234 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250917081921NAL0000120051001, received 2025-09-17, EIN 31-0397080, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.