Berry Petroleum Company, LLC 401(k) Review & Grade
Berry Petroleum Company, LLC 401(k) Plan
Bakersfield, CAMining, Oil & Gas1,162 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$4,214Employer $ per active participant
$6,862Employee $ saved per active participant
0.06%Direct admin cost, % of plan assets
$88.7MNet plan assets, end of year
$70,953Average balance per account
Score breakdown
- Employer generosity23.4 / 5047th percentile for employer $ per participant
- Low cost20.7 / 2583th percentile for low admin cost vs. same-size plans
- Employee saving6.9 / 1546th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score61 / 100 · Grade B
This plan vs. peers
Peers: Mining, Oil & Gas plans with 500–2,499 active participants (129 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 47th |
| Lower admin cost | 83th |
| Employee saving | 46th |
| Peers that auto-enroll | 60% |
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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
- Berry Petroleum Company put in about $4,214 per active participant, below the typical peer ($4,357). Any match is still an instant return, so contribute enough to get all of it.
- 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 | $4,896,844 |
| Participant (employee) contributions | $7,973,301 |
| Other contributions (incl. rollovers in) | $1,444,061 |
| Administrative expenses paid from the plan | $54,661 |
| Benefits paid out | $15,882,770 |
| Net assets, start / end of year | $79.6M / $88.7M |
| Active participants, start / end of year | 1,269 / 1,055 |
| Participants with account balances | 1,250 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Baker Tilly US, LLP |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company O | $51,068 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250820114110NAL0003224801001, received 2025-08-20, EIN 77-0079387, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.