Avangrid Management Company, LLC 401(k) Review & Grade
Avangrid 401(k) Plan
Orange, CTUtilities8,137 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$12,353Employer $ per active participant
$13,957Employee $ saved per active participant
0.04%Direct admin cost, % of plan assets
$2.6BNet plan assets, end of year
$254,018Average balance per account
Score breakdown
- Employer generosity47.3 / 5095th percentile for employer $ per participant
- Low cost21.5 / 2586th percentile for low admin cost vs. same-size plans
- Employee saving13.4 / 1589th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score79 / 100 · Grade A
This plan vs. peers
Peers: Utilities plans with 2,500–9,999 active participants (38 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 95th |
| Lower admin cost | 86th |
| Employee saving | 89th |
| Peers that auto-enroll | 82% |
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Red flags from the filing
Benefits not paid when due: the plan reported failing to pay some benefits on time.
Corrective distributions: the plan refunded $96,382 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Avangrid Management Company put in about $12,353 per active participant, more than the typical peer ($6,490). 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 | $100,519,060 |
| Participant (employee) contributions | $113,568,813 |
| Other contributions (incl. rollovers in) | $15,765,411 |
| Administrative expenses paid from the plan | $900,683 |
| Contract administrator fees | $4,200 |
| Investment advisory & management fees | $453,176 |
| Other admin expenses | $154,275 |
| Benefits paid out | $243,959,972 |
| Net assets, start / end of year | $2.3B / $2.6B |
| Active participants, start / end of year | 8,011 / 8,263 |
| Participants with account balances | 10,095 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | The Bonadio Group |
| Employer stock held by plan | $390,010 |
Largest service providers (Schedule C)
| Strategic Advisors, Inc. | $453,176 reported compensation |
| Fidelity Investments Institutional | $241,818 reported compensation |
| Mercer Investments LLC | $153,375 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014104258NAL0001251491001, received 2025-10-14, EIN 45-5063049, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.