Employers › Progressive
Recordkeeping fees per participant · The Progressive 401(k) Plan · plan year 2024
$7.67
Higher than 11% of the 790 plans over $1B that report it.
= $539,920 / 70,397
Schedule H, line 2i(3); OTH_RECORDKEEPING_FEES_AMT pos 160; filing 20250520131349NAL0001242561001, received 2025-05-20
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250520131349NAL0001242561001, received 2025-05-20
Percentiles compare this plan with the Schedule H plans over $1B in assets of the same plan year, excluding final filings; shown only where at least 50 comparable plans report the figure. Plan year 2024-01-01 to 2024-12-31, filing received 2025-05-20.
Administrative expenses excluding investment management, per participant
$8.99
Higher than 9% of the 1,045 plans over $1B that report it.
= $632,960 / 70,397
derived, admin_expenses (2i(12)) minus invst_mgmt_fees (2i(5)), floored at 0; filing 20250520131349NAL0001242561001, received 2025-05-20
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250520131349NAL0001242561001, received 2025-05-20
Administrative expenses per participant
$8.99
Higher than 4% of the 1,076 plans over $1B that report it.
= $632,960 / 70,397
Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20250520131349NAL0001242561001, received 2025-05-20
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250520131349NAL0001242561001, received 2025-05-20
Administrative expenses as a share of assets
0.005%
Higher than 5% of the 1,076 plans over $1B that report it.
= $632,960 / $11,533,546,294
Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20250520131349NAL0001242561001, received 2025-05-20
assets_eoy: Schedule H, Part I line 1f col (b); TOT_ASSETS_EOY_AMT pos 61; filing 20250520131349NAL0001242561001, received 2025-05-20
Employer contributions per participant
$3,307
Higher than 42% of the 1,135 plans over $1B that report it.
= $232,817,733 / 70,397
Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20250520131349NAL0001242561001, received 2025-05-20
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250520131349NAL0001242561001, received 2025-05-20
Employer share of total contributions
33.9%
Higher than 52% of the 1,135 plans over $1B that report it.
= $232,817,733 / $685,770,943
Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20250520131349NAL0001242561001, received 2025-05-20
total_contrib: Schedule H, line 2a(3); TOT_CONTRIB_AMT pos 72; filing 20250520131349NAL0001242561001, received 2025-05-20
Employer match
“We invest in the health and wellbeing of Progressive people by providing a broad range of benefits, including: medical, prescription drug, dental, and vision benefits; a 401(k) plan with up to a 6% company match; life insurance; long- and short-term disability insurance; and paid parental leave following birth, adoption, or placement of a foster child.”
Form 10-K filed 2026-03-02, for the year ended 2025-12-31 · benefits note, 10-K benefits note · source document
Terms quoted from the filing for the year ended 2025-12-31. Figures cover plan year 2024. The plan document governs.
2E profit-sharing · 2F ERISA 404(c) plan · 2G fully participant-directed · 2J 401(k) feature · 2K 401(m) arrangement · 2O ESOP-related feature · 2R participant brokerage window · 2S pre-approved plan document · Form 5500, line 8a; TYPE_PENSION_BNFT_CODE pos 81; filing 20250520131349NAL0001242561001, received 2025-05-20
| Field | Value | Source |
|---|---|---|
| Plan sponsor | THE PROGRESSIVE CORPORATION & ITS PARTICIPATING SUBSIDIARIES | Form 5500, Part II line 2a; SPONSOR_DFE_NAME pos 19; filing 20250520131349NAL0001242561001, received 2025-05-20 |
| Plan name | THE PROGRESSIVE 401(K) PLAN | Form 5500, line 1a; PLAN_NAME pos 16; filing 20250520131349NAL0001242561001, received 2025-05-20 |
| Sponsor EIN / plan number | 34-0963169 / 003 | Form 5500, line 2b; SPONS_DFE_EIN pos 44; filing 20250520131349NAL0001242561001, received 2025-05-20 |
| Plan type | single-employer | Form 5500, Part I line A; TYPE_PLAN_ENTITY_CD pos 4; filing 20250520131349NAL0001242561001, received 2025-05-20 |
| Sponsor location | MAYFIELD VILLAGE, OH | Form 5500, line 2a; SPONS_DFE_MAIL_US_STATE pos 25; filing 20250520131349NAL0001242561001, received 2025-05-20 |
| Industry (business code) | 524290, Finance and insurance | Form 5500, line 2d; BUSINESS_CODE pos 46; filing 20250520131349NAL0001242561001, received 2025-05-20 |
| Plan year | 2024-01-01 to 2024-12-31 | Form 5500, Part I plan year; FORM_PLAN_YEAR_BEGIN_DATE pos 2; filing 20250520131349NAL0001242561001, received 2025-05-20 |
| Filing received | 2025-05-20 | Form 5500, EFAST2 receipt date; DATE_RECEIVED pos 102; filing 20250520131349NAL0001242561001, received 2025-05-20 |
| Final filing | no | Form 5500, Part I line B; FINAL_FILING_IND pos 8; filing 20250520131349NAL0001242561001, received 2025-05-20 |
| Amended filing | no | Form 5500, Part I line B; AMENDED_IND pos 7; filing 20250520131349NAL0001242561001, received 2025-05-20 |
| Participants, beginning of year | 69,645 | Form 5500, line 5; TOT_PARTCP_BOY_CNT pos 71; filing 20250520131349NAL0001242561001, received 2025-05-20 |
| Active participants | 67,357 | Form 5500, line 6a(2); TOT_ACTIVE_PARTCP_CNT pos 72; filing 20250520131349NAL0001242561001, received 2025-05-20 |
| Participants, end of year | 74,118 | Form 5500, line 6f; TOT_ACT_RTD_SEP_BENEF_CNT pos 77; filing 20250520131349NAL0001242561001, received 2025-05-20 |
| Participants with an account balance | 70,397 | Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250520131349NAL0001242561001, received 2025-05-20 |
| Total assets, beginning of year | $9,225,573,063 | Schedule H, Part I line 1f col (a); TOT_ASSETS_BOY_AMT pos 30; filing 20250520131349NAL0001242561001, received 2025-05-20 |
| Total assets, end of year | $11,533,546,294 | Schedule H, Part I line 1f col (b); TOT_ASSETS_EOY_AMT pos 61; filing 20250520131349NAL0001242561001, received 2025-05-20 |
| Net assets, end of year | $11,533,546,294 | Schedule H, line 1l col (b); NET_ASSETS_EOY_AMT pos 67; filing 20250520131349NAL0001242561001, received 2025-05-20 |
| Total income | $3,096,029,076 | Schedule H, Part II line 2d; TOT_INCOME_AMT pos 97; filing 20250520131349NAL0001242561001, received 2025-05-20 |
| Net income | $2,307,973,231 | Schedule H, line 2k; NET_INCOME_AMT pos 111; filing 20250520131349NAL0001242561001, received 2025-05-20 |
| Employer contributions | $232,817,733 | Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20250520131349NAL0001242561001, received 2025-05-20 |
| Participant contributions | $395,845,803 | Schedule H, line 2a(1)(B); PARTICIPANT_CONTRIB_AMT pos 69; filing 20250520131349NAL0001242561001, received 2025-05-20 |
| Other contributions (incl. rollovers) | $57,107,407 | Schedule H, line 2a(1)(C); OTH_CONTRIB_RCVD_AMT pos 70; filing 20250520131349NAL0001242561001, received 2025-05-20 |
| Total contributions | $685,770,943 | Schedule H, line 2a(3); TOT_CONTRIB_AMT pos 72; filing 20250520131349NAL0001242561001, received 2025-05-20 |
| Benefit payments | $787,277,075 | Schedule H, line 2e(4); TOT_DISTRIB_BNFT_AMT pos 101; filing 20250520131349NAL0001242561001, received 2025-05-20 |
| Total expenses (incl. benefit payments) | $788,055,845 | Schedule H, line 2j; TOT_EXPENSES_AMT pos 110; filing 20250520131349NAL0001242561001, received 2025-05-20 |
| Total administrative expenses | $632,960 | Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20250520131349NAL0001242561001, received 2025-05-20 |
| Recordkeeping fees | $539,920 | Schedule H, line 2i(3); OTH_RECORDKEEPING_FEES_AMT pos 160; filing 20250520131349NAL0001242561001, received 2025-05-20 |
| Administrative expenses excluding investment management | $632,960 | derived, admin_expenses (2i(12)) minus invst_mgmt_fees (2i(5)), floored at 0; filing 20250520131349NAL0001242561001, received 2025-05-20 |
| Held in common/collective trusts | $235,783,162 | Schedule H, line 1c(9) col (b); INT_COMMON_TR_EOY_AMT pos 51; filing 20250520131349NAL0001242561001, received 2025-05-20 |
| Held in mutual funds | $6,774,465,129 | Schedule H, line 1c(13) col (b); INT_REG_INVST_CO_EOY_AMT pos 55; filing 20250520131349NAL0001242561001, received 2025-05-20 |
| Independent auditor | MEADEN & MOORE | Schedule H, Part III line 3a; ACCOUNTANT_FIRM_NAME pos 116; filing 20250520131349NAL0001242561001, received 2025-05-20 |
Position = column in the DOL layout for form year 2024. Filing 20250520131349NAL0001242561001, received 2025-05-20.
| Provider | Relationship | Service codes | Direct compensation | Indirect |
|---|---|---|---|---|
| FIDELITY INV INST OPER CO INCrecordkeeper | RECORDKEEPER | 37 Participant loan processing; 64 Recordkeeping fees; 65 Account maintenance fees; 71 Securities brokerage commissions and fees | $589,892 | yes |
| BAKER & HOSTETLER LLP | ATTORNEY/LEGAL | 29 Legal | $93,040 | yes |
Schedule C Part I line 2: name (a), service codes (b), relationship (c), direct compensation paid by the plan (d), indirect compensation received (e). Filing 20250520131349NAL0001242561001, received 2025-05-20.
| Figure | 2023 | 2024 | Change |
|---|---|---|---|
| Total assets | $9,225,573,063 | $11,533,546,294 | 25.0% |
| Participants with a balance | 65,951 | 70,397 | 6.7% |
| Administrative expenses | $540,920 | $632,960 | 17.0% |
| Recordkeeping fees per participant | $8.20 | $7.67 | -6.5% |
| Employer contributions | $205,253,824 | $232,817,733 | 13.4% |
Prior filing 20240521160915NAL0006038578001, received 2024-05-21; the plan years are contiguous.
Sponsor name as filed: THE PROGRESSIVE CORPORATION & ITS PARTICIPATING SUBSIDIARIES; SEC registrant: PROGRESSIVE CORP/OH/ (CIK 80661, matched by EIN; display name from the Form 11-K cover).