401(k) · DOL Form 5500 · 2023

Motorists Mutual Insurance Company 401(k) Plan

Data updated 2026-08-25

$307M
Total assets Above avg plan size
1,160
Participants Near avg headcount
96th
Percentile by assets National rank
$264,282
Avg per participant High balance/head
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Official DOL plan name: Encova Insurance 401(k) Plan · Sponsored by Motorists Mutual Insurance Company · Ohio · Finance & Insurance

$307M in assets, 1,160 participants

Motorists Mutual Insurance Company's Encova Insurance 401(k) Plan reported $307M in total assets and 1,160 participants in its 2023 DOL Form 5500 filing, ranking in the 96th percentile by assets among filed plans. Figures are as reported by the plan sponsor to the Department of Labor, not audited or endorsed by PlainRetire.

  • #8,311 in Finance & Insurance (8,869 peers)

Where Encova Insurance 401(k) Plan sits by assets

Encova Insurance 401(k) Plan sits in the top 5% of all filed plans by assets, $307M for 1,160 participants (~$264,282/participant), up 19.7% in 2023.

#8,311
in Finance & Insurance (8,869 peers)
+19.7%
assets growth YoY
3.1×
vs typical plan assets (national mean)

Encova Insurance 401(k) Plan's outsized position by total assets

Encova Insurance 401(k) Plan vs every filed plan by assets

End-of-year total assets · plan year 2023 · DOL Form 5500

$306,567,589 Top 4% higher than 96% of 127,068 filed plans

This plan $0 $2,050,000,000 every filed plan with reported assets, bucketed by value

Dashed line + filled bar = this entry, among filed plans.

Source U.S. Department of Labor Form 5500 filings (EBSA) · plan year 2023

Encova Insurance 401(k) Plan's large-plan peer group by participant headcount

Plan-year 2023 Form 5500 filings with a reported participant count, partitioned by headcount band, not by assets. Encova Insurance 401(k) Plan lands in the large band (1,160 participants).

What changed between DOL Form 5500 filings

plan year 2022 → plan year 2023

  • Encova Insurance 401(k) Plan reported net income rose from -$60M in the plan year 2022 filing to $50M in the plan year 2023 filing.
  • Encova Insurance 401(k) Plan end-of-year assets rose from $256M in the plan year 2022 filing to $307M in the plan year 2023 filing.
  • Encova Insurance 401(k) Plan reported participants rose from 1,145 in the plan year 2022 filing to 1,160 in the plan year 2023 filing.

See the national 2022→2023 release diff →

Published 5500 schedule card

Filing strip 314259550 · Motorists Mutual Insurance Company PY 2023 · 401(k)

Encova Insurance 401(k) Plan · $307M · 1,160 · 96th

  • PART $307M
  • PART 1,160
  • PART 96th
  • PART 401(k)
  • PART near Digital Insurance, LLC 401(k) Plan
  • PART ind #8311

Stamps derive from this plan's Form 5500 line items (assets, participants, type, EIN, cohort placement) - not a quality rating of the sponsor. Read with Finance & Insurance retirement plans → · Plans in Ohio →

Encova Insurance 401(k) Plan in the asset neighbourhood

Musco Profit Sharing and Employee Savings PlanMusco Profit Sharing and Emp…$307MEncova Insurance 401(k) Plan$307MDigital Insurance, LLC 401(k) PlanDigital Insurance, LLC 401(k…$307MSouth Central Minnesota Electrical Workers Retirement and 401(k) PlanSouth Central Minnesota Elec…$307MIuoe Local 399 Participating Employers Deferred Compensation Employee Savings PlanIuoe Local 399 Participating…$306M
End-of-year total assets ($M) among Encova Insurance 401(k) Plan and nearest nationwide 401(k) peers. Source: DOL Form 5500 plan year 2023.

Scale-class filing particulars (2023)

Total Assets (Beginning of Year)$256M
Net Assets (End of Year)$307M
Net Income$50M
Employer EIN314259550
Plan Effective Date2006-01-01
Filing StatusFILING RECEIVED

Sponsor Plan History (Motorists Mutual Insurance Company)

Sponsor-wide plan assets over time

All Motorists Mutual Insurance Company plans reported in each filing year

Latest sponsor-wide plan assets
$419M 29.441508536667747% vs 2022
2024 filing year
$300M$350M$400M$450M 202220232024 $324M $419M ▲ +29.4%
Year Plans Participants Total Assets
2022 2 1,395 $324M
2023 2 1,388 $378M
2024 2 1,339 $419M

Nearby 401(k) Plans in Ohio

Peer 401(k) plans, same state, same plan type, ranked by total assets.

Encova Insurance 401(k) Plan vs. nearby 401(k) plans in Ohio, assets vs. participants Scatter plot of 6 data points. -50000050000100000150000 -50510152025 Total assets ($B) Participants Encova Insurance 401(k) Plan, Total assets ($B): 0.306567589 · Participants: 1160Encova Insurance 401(k) PlanGE Retirement Savings Plan, Total assets ($B): 19.485469047 · Participants: 59766GE Retirement Savings PlanThe Sherwin-Williams Company 401(k) Plan, Total assets ($B): 10.12932701 · Participants: 47362The Sherwin-Williams Company 401(k) PlanThe Progressive 401(k) Plan, Total assets ($B): 9.225573063 · Participants: 56176The Progressive 401(k) PlanThe Kroger Co. 401(k) Retirement Savings Account Plan, Total assets ($B): 8.445085 · Participants: 129769The Kroger Co. 401(k) Retirement Savings Account PlanNationwide Savings Plan, Total assets ($B): 7.618883027 · Participants: 24715Nationwide Savings Plan
Encova Insurance 401(k) Plan vs. nearby 401(k) plans in Ohio, assets vs. participants
Compare Encova Insurance 401(k) Plan side-by-side with 3 peers →

Encova Insurance 401(k) Plan's out-of-state 401(k) peers by assets and headcount

Outside Ohio, the nearest 401(k) by assets is Digital Insurance, LLC 401(k) Plan in GA ($307M); by covered participants it is Mdh Network 401(k) Plan in CA (1,160 participants). Same-state nearby plans are listed separately above.

Similar participant headcount

Nearest other-state filings by covered participants (1,160 participants); asset peers above are excluded.

DOL Form 5500 plan year 2023. Asset totals can differ widely at the same headcount; neither axis is a quality rating.

Frequently Asked Questions

How did Encova Insurance 401(k) Plan assets move in 2023? ▼
Encova Insurance 401(k) Plan grew sharply - up 19.7% during 2023, from $256M to $307M. Reported net income was $50M.
How have Motorists Mutual Insurance Company plan assets changed over time? ▼
Across 3 plan years on file (2022-2024), Motorists Mutual Insurance Company's sponsor-wide assets grew 29.4%, from $324M to $419M.
Where does Encova Insurance 401(k) Plan rank by assets among Form 5500 filers? ▼
Encova Insurance 401(k) Plan ranks in the 96th percentile by end-of-year assets among 127,072 plans that reported assets for plan year 2023 (in the top 5% of all filed plans by assets).
Which 401(k) plans are similar in size to Encova Insurance 401(k) Plan? ▼
Among 401(k) plans in other states, the closest by assets is Digital Insurance, LLC 401(k) Plan in GA ($307M, 3,169 participants).
Which 401(k) plans cover a similar participant headcount to Encova Insurance 401(k) Plan? ▼
Among 401(k) plans in other states, the closest by covered participants is Mdh Network 401(k) Plan in CA (1,160 participants, $4M in assets).

Source: U.S. Department of Labor, Employee Benefits Security Administration (EBSA), Form 5500 public disclosure dataset. Plan year 2023.

Source: DOL EFAST2 filing system (efast.dol.gov) - original filing retrieval by EIN 314259550.

Read our methodology - how this data is sourced, computed, and verified.

Data sourced from U.S. Department of Labor Form 5500 filings (EBSA). See our methodology for details.